New companies ignore gloom
RECENT economic woes are doing little to deter new business from starting up in North Somerset.
In September alone, eight new companies were created – a figure which North Somerset Enterprise Agency says mirrors the amount of new start-ups in the same month last year.
So while the nation is struggling, new companies – including a removal firm, a sound technician, a collectibles trader and a marketing consultancy – are continuing to be born.
The agency’s chief executive Angela Hicks said: “Our latest statistics suggest that North Somerset’s would-be business owners are refusing to be daunted by the recession and general economic gloom and doom – and rightly so.
“A downturn can actually be a very good time to start a new business because bigger businesses may be struggling and less able to compete with new, nimbler enterprises.
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“They might also be down-scaling their operations and focusing on specific customer groups, which can leave gaps for smaller businesses to fill.
“In addition most customers – whether business or consumer - are looking for better value-for-money from their suppliers, which smaller businesses can often provide.”
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Looking further back, to 2009, eight new ventures were launched in the area.
Six continue to trade today – an impressive figure, given that 60 per cent of new companies fail within the first three months.
Angela says help available in North Somerset from people like the enterprise agency can prove key to helping new firms thrive.
She said: “That’s not to say that running your own business will be easy because it won’t.
“That’s why the help of an experienced and knowledgeable business advisor is crucial and can be the difference between success and failure.
“We wish all our new business clients the best of luck, remain here to support them whenever they need us and look forward to reporting on their success three years from now.”