UK entrepreneurial performance at all-time high, according to index
Entrepreneurial performance in the UK is higher than ever before, according to Barclays’ Entrepreneur Index.
The index showed that entrepreneurial performance had increased by 10 per cent since 2011.
There was also a 19 per cent increase in M&As in businesses that had been running for fewer than five years, and a 33 per cent rise from December 2015 to June 2016 in the number of deals.
The services sector in the UK accounted for 23 per cent of total deals, whilst financial services firms accounted for 10 per cent.
The index also showed a 36 per cent fall in IPO activity, which Barclays said suggests the absence of confidence amongst businesses to expand and growing volatility of the market.
Barclays Chief Executive of Wealth, Entrepreneurs and Business Banking Akshaya Bhargava said: “This year’s Entrepreneurs Index shows that before the EU Referendum, regulations and conditions for entrepreneurs had improved, making it easier to start a business and contributed to a rise in M&A.
“Until the outcome is fully known, it’s vital that we do everything in our power to deliver a strong environment to sustain UK entrepreneurial growth.”