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Business start-ups 'should embrace opportunities'

The chance for entrepreneurs to get in on the ground floor of the recovery is rapidly receding and therefore anyone looking to start their own business should act soon, it has been claimed.

Entrepreneur Julie Meyer claimed the cost of starting a new venture now will be much lower than it would be in a few months time when rates have increased and a recovery has officially taken hold in all sectors.

She commented: "Different parts of the economy are working at different speeds, but there's enormous new company creation and there's a lot of demand for start-up capital."

According to a recent report by Barclays, small and medium-sized enterprises (SMEs) across the UK plan to create two million new jobs over the next 12 months and forecast a realistic annual growth rate of 8.5 per cent.

Furthermore, the survey showed the highest predicted growth is in Southampton, where SMEs are predicted to grow by up to 49 per cent.