Starting a new business? Get 40% off our accountancy services for 3 months! 😀


When it comes to the creation and development of new businesses, the UK are falling behind countries in the G20, including the United States and India. This is according to a report published by Ernst & Young; Entrepreneurs Speak Out. The survey which questioned business leaders aged 18 to 40, revealed that the UK has fallen to 14th place in the list of G20 countries when it comes to supporting entrepreneurs in a new business venture. Only 76 percent of business leaders believe there is a culture in the UK geared towards entrepreneurs.

However, the UK did receive some positive results, with the start-up costs for a new venture being among the lowest in the G20, while the length of time it takes to commence trading only takes an average of 13 days in the UK, in comparison to 22 days in the G20. Business has also been boosted by popular TV shows like The Apprentice and Dragon’s Den. Tax relief and high standards of education also helped to give business image a boost.

The report was published in the days before the G20 Young Entrepreneurs Summit which took place in France. According to the report, the UK have to look at business incentives, funding and innovation, especially as 72 percent of UK business leaders had difficulty gaining access to funding.

Bob Forsyth, partner at Ernst & Young said:

“It is amazing to me that entrepreneurs and in particular, young entrepreneurs are not supported and acknowledged enough for the critical role they play in job creation and generating innovation. They clearly need more support and attention in fiscal and government policy.”

Inline Feedbacks
View all comments

Read more posts...

Umbrella Companies for Self-Employed Contractors

When you set up in business as a contractor you might either work as a sole trader or as a limited company….

Read More

Get Ready for Small Business Saturday UK 2022

Small Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…

Read More

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.


You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?


Call us on 020 3355 4047 if you’re not sure.