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Start-ups on the increase throughout Scotland

Category: Invoice Discounting — Mark on June 14, 2012

The number of new firms launching in Scotland in the first quarter of 2012 has shot up, according to latest industry figures.

From January to March of this year, the number of start-up companies in the country has increased by 35%, compared to final quarter of 2011.

The figures have been announced by the Committee of Scottish Clearing Bankers (CSCB).

In the first quarter of the year, 4,365 businesses were started. This compares to 3,218 in the period from October to December last year, according to the CSCB.

The growth has surprised many, with commercial finance in Scotland still hard to come by for many entrepreneurs.

The use of personal savings is thought to be relied upon for many start-ups, though many others are finding growth through the use of invoice factoring. Glasgow has seen steady growth, though the largest number of business are being created in the Highlands.

Interestingly, manufacturing has been one area to see much growth. A sector to have seen a large number of cutbacks over recent years, many of those out out of work have used their redundancies to set up on their own.

Another area to have seen a lot of growth has been in recreation.

There are some areas not performing so well though, with the real estate sector seeing a notable drop off. With regards to areas, East Renfrewshire shows the greatest decrease in start-up businesses.

The CSCB is an incorporation of the Bank of Scotland, Clydesdale Bank, Lloyds TSB Scotland and the Royal Bank of Scotland.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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