Wednesday 24th April 2024
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Buoyant start-ups point to ‘sizeable appetite’ for new business in region

The number of new businesses set up in East Anglia by entrepreneurs in March was the highest of any region outside London although debts owed by firms in liquidation have increased sharply. Figures from the Eastern branch of invsolvency trade body R3 show that there were 8,183 new businesses started in East Anglia in March. Although this was below the level recorded in February, R3 says it ‘still indicates a sizeable appetite for new business in the region and opportunities for growth.’

R3 Eastern chair Hayley Watson of McTear Williams & Wood said: “It’s good to see local entrepreneurs seizing opportunities to set up and trade, and the monthly fall in start-ups could indicate a sensible degree of necessary caution due to challenging economic conditions.” Levels of debts owed by East Anglian businesses in liquidation increased by 35 per cent in March and were almost double the month last year. Meanwhile, the number of local companies with late payments on their books has rose to 62,895 last month, up from 61,938 in January.

Hayley Watson continued: “Business owners should remain cautious moving through 2024 as they and their supply chain continue to be under pressure from elevated Bank of England interest rates and prices for goods and services which are significantly higher than three years ago."

Last Updated ( Tuesday, 23 April 2024 06:52 )


Finance directors turn more optimistic but retain ‘defensive’ stance

Finance directors turn more optimistic but retain ‘defensive’ stance

Optimism among chief financial officers at the country's largest firms has risen for the third quarter running. But whilst corporate risk appetite has risen slightly, C...

Last Updated ( Wednesday, 10 April 2024 06:23 )

‘Brighter mood’ among businesses in the region amidst signs economy is stabilising

Business confidence in the East of England rose by nine points during March to 48 per cent as firms grew more optimistic on both their own prospects and the economic ou...

Last Updated ( Tuesday, 09 April 2024 14:37 )

Faster job creation around Cambridge adds weight to infrastructure investment calls

New jobs are being created across all sectors around Cambridge, with major employment growth driven by knowledge-intensive sectors such as life sciences and healthcare,...

Last Updated ( Tuesday, 23 April 2024 06:56 )

Confident manufacturers look forward to a surge in new orders

Manufacturers in the region are in confident mood and are set for a surge in new orders in coming months, despite a mixed overall picture and a weak economy .

According t...

Last Updated ( Wednesday, 03 April 2024 07:35 )

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