Record half a million start-ups launched in 2014

The UK has reached an all-time record in the number of businesses launched.

According to the Centre for Entrepreneurs, 500,000 start-ups have been registered this year to date, with the half a million mark being reached a month earlier than in 2013.

Matt Smith, director of the Centre for Entrepreneurs said: “This fantastic news shows that entrepreneurial spirit is flourishing within Britain.

“We have the third lowest start-up costs in the world, we’re ranked eighth in the world for the ease of doing business and we have the fastest growing economy in the G7 - all of which proves that there is no better time or place to start a business.”

The accelerated start-up rate this year means the UK could achieve a new record of 550,000 new businesses started in 2014, the think tank said - more than the 526,446 new businesses in 2013.

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