As many as 90 per cent of the UK’s start-up businesses are anticipating strong sales growth over the next year, a new study suggests.
The research, which was carried out by the Government-backed Start Up Loans Company in recent weeks, found that business confidence appears to be remarkably strong amongst Britain’s very youngest businesses.
The survey quizzed a total of 630 business that are currently less than a year old.
It found that almost half (47 per cent) of business owners running companies that have been set up within the last 12 months are anticipating ‘double-digit’ growth by mid-2018.
A further quarter of such businesses added that they are expecting their sales to swell by at least 25 per cent over the same period.
Commenting, Tim Sawyer, CEO of the Start Up Loans Company, said: “It’s not surprising to see the business community at large pause for thought, given the political uncertainty of recent weeks, but our own research shows that founders of start-ups are a resilient breed and their own ambitions remain almost entirely unaffected.
“Of course there are challenges, but when you’re determined to start and grow a business, nothing stands in your way.”