The latest Duport Business Confidence Report for Halifax, West Yorkshire shows there was a rise in company formations over the third quarter of the year. During this period there were 174 new companies registered, representing a 2% rise on Q3 of 2012.
Company formation numbers in Worcester rose during the third quarter of the year, according to a new report from Duport.co.uk.
New research from Duport.co.uk has revealed an unprecedented number of new company formations in Liverpool over the third quarter of the year.
Relying on your other half for business support is becoming the trend amongst UK start-ups, according to a survey of small trade businesses employing fewer than five people.
The research was conducted by Direct Line for Business and found that 51% of the company owners surveyed lean on their partner when it comes to running their company. The most common activity for partners to undertake was general administration (41%), whilst 19% act as receptionist and 14% take care of legal matters and accounts.
Impressively, one in four partners hold down a full-time job whilst helping their spouse, and 39% work part-time alongside assisting their partner.
The average annual turnover of the companies polled was £124,000, with a third of the company owners admitting they do not pay their partners for the work they do – helping to keep company spending as low as possible.
Jazz Gakhal, head of Direct Line for Business said:
“Small businesses are crucial in re-energising the UK economy. It is therefore, heartening to see partners working together to help sustain these small companies, despite not being fully financially compensated and in many cases not paid at all.”
In this tough economic climate, it seems that small companies are relying on love and loyalty to keep the costs down –and who said romance is dead?