Small business start-up loans to boost businesses

Tue, 21 Jun 2005

Small business start-up loans could help small business owners bounce back, Barclays suggested with new figures released this week.

So far in 2005 the number of small businesses that were started up has been lower compared to last year, the bank reported.

In the first quarter only 116,300 small businesses were started, compared to 129,500 in the same period in 2004, data by Barclays revealed.

But small business start-ups are still above average for this time of year. At 99,000, there is 15 per cent more new small businesses being started up than average, said Louise Fowler, small business marketing director for Barclays.

She said the fall in high street spending and uncertainty surrounding the housing market would impact negatively on the start-up of new businesses for the rest of the year.

"We expect start-up figures to end the year at around 430,000, compared to 460,000 in 2004," Ms Fowler predicted.

Small business loans for women could also help businesswomen realise their dreams. Only 21,900 women started up new businesses, compared with 78,600 men in the first quarter according to the Barclays figures.

Barclays Business Plan Awards teamed up with website handbag.com to launch a competition that further encourages women to turn their business ideas into reality.

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