Tidbit Version: The Barclays & BGF Entrepreneurs Index

In this ‘tidbit version‘ I will do my best to summarise the 40+ pages of the Barclays and BGF Entrepreneurs Index into a series of facts and figures.

At included.co we understand that time is money, so we did most the heavy lifting for you. You should focus on growing your business and the jobs you’re creating and let us chop off as much of the unnecessary noise as possible. Just like we do with the desks we list.

Let’s get on to the figures. Some may be widely-know public info, some may be quite insightful and some may even be exciting, but all of them will give a clear insight into what Barclays and the BGF reported on the status of entrepreneurship in the UK.

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  • 48

  • SME’s account for 48.1% of private sector turnover.

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  • New businesses started by end of 2013!

    (This was actually confirmed a few days ago, just before the end of the year)


  • 500000

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Number of high growth companies is rising more than it has for years.

According to company house:

  • there are currently around 3 million active companies in the UK.

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  • a 3% increase in startup activity in each 6 month period.

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  • the average size of share purchase deals in first half of 2013 is increasing.

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Percentage of 18-64 year olds in the process of starting or already running new businesses


2012
9


2011
7


<2010 [/progress_bar] [space] [button linking="new_window" link="http://ctt.ec/GEAxy" align="center" size="small" type="wide" style="solid" icon="twitter"]Tweet This![/button] [quote author_name="Marcus Stuttard" author_description="Head of AIM at the London Stock Exchange" author_image="http://www.independent.co.uk/migration_catalog/article5286382.ece/ALTERNATES/w460/Untitled-1.jpeg" size="small" style="solid"] Growth has really been accelerated due to the fact that it is a lot easier and cheaper to set up businesses than it once was, particularly for those businesses that have got a technology or an internet layer to them. [/quote] [divider_top] [one_half]

When asked Why?

27

control over own life
6


be own boss
25


making a living
30

[/one_half]

  • What is enjoyed most about being an entrepreneur?


    being own boss
    49


    working from home
    39



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1-in-5 mid-sized businesses can now be defined as high-growth companies.


If company owners keep focus on the fundamentals of the business, then automatically what we’re going to start seeing is a lot more, healthier, fast-growing businesses.

Author's imageImran HakimCEO of Hakim Group

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Services, Mining and Utilities


  • UK Service sector accounts for 3/4 of economic output.

  • Service industry grew at it’s fastest rate in 16 years.

  • 13% uplift in no. of mining and utility companies.

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Disintermediation (new companies differentiate themselves from traditional firms, grow up and start to take out old, established players) significant in finance and utilities sectors.

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Regional Performers from 2012 to 2013

Starting Up (No. of VAT and/or PAYE based enterprises)

  • London
  • 3.5% (12,000 new firms)

  • Yorkshire & Humberside
  • 0.4%

  • Midlands
  • 0.4%

Growing (difference in % high growth companies)

  • London
  • 0.6%

  • Yorkshire & Humberside
  • 6.9%

  • Midlands
  • 7.8%

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Funding Disconnect


  • 73

    found it easy/straightforward to raise funding
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  • 83

    used existing funds/savings and cash
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  • £0
  • 8

  • <£2,000
  • 49

  • £2,000-£5,000
  • 17

  • £5,000-£10,000
  • 9

  • £10,000-£15,000
  • 3

  • £15,000-£20,000
  • 3

  • £20,000-£50,000
  • 4

  • >£50,000
  • 4

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Sources of Funding


  • Value of VC investments in British early-stage startup companies in Q3 2013 fell to lowest amount since 2009.

  • Only 1% of smaller & mid-sized businesses consider equity investments from 3rd-parties.

  • Reason: time commitment to find funding takes them away from running and growing businesses

new breed of entrepreneur is emerging who is resourceful, thinks laterally and understands the ‘battlefield for funding’


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Alternative Sources of Funding


  • Business Growth Fund

  • look for minority stake, take a seat on your board, looks for strong business model and lots of ambition.



  • Crowd-funding

  • Currently have 2% of marketshare. Expected to be as high as 10% within 10 years.



  • Angels

  • £800m-£1bn each year invested into British ecosystem
    70% went into seed funding and early-stage opportunities
    58% invested more this year than the previous year

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More than 1/2 of the UK’s economic output is created outside London.

Startups Embracing the Entrepreneurial Spirit
(Constantly thinking of new ideas to make money)



  • Outside London
    43



  • London and South East
    33

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