COMPANY FORMATIONS UP IN 2011

With all the doom & gloom in the province this may seem a startling statement however Companies House report that there has been a 20% increase in Northern Ireland formations over the same period last year (April – Nov).

Reasons??

Is all the encouragement from start up sources finally exposing more of the entrepreneurial spirit in us or is it that with the insecurity  employees have in their jobs at the moment they have decided to take control of they own destiny and start up their own business. Probably a combination of both but are these start ups creating new jobs. Time will tell although one piece of research in recent years indicates that due to employment laws new start ups were not getting beyond 1 or 2 people. Small businesses didn’t want the hassle.  

In the New Year combining the formation statistics with other sources can hopefully help us analyse better what the possible reasons are.