Company Formation on the Up

Two years ago business analysts and economists alike predicted that the company formation sector would be the biggest casualty of the recession. This was mainly due to the fact that many people believed that in a context in which finance is hard to access and consumer confidence and spending is at an all time low, people would be dissuaded from forming a company.

However, according to a recent report just under forty thousand companies have been formed over the six month and experts predict that this figure is set to rise further as the year progresses.

The survey also found that business owners are expecting an increase in consumer confidence as 2010 comes to a close and over forty per cent are forecasting growth in 2011.

Matthew Morris, the survey’s research and development manager, comments ; “ While recovery has been somewhat slower than many expected , the findings of the survey confirm that most small business owners feel very optimistic about their future.”