Start-ups that accept help survive
START-UP businesses that accept advice from the Government’s free service Business Link are 30 per cent more likely to survive than those that try to go it alone.
An independent survey carried out by Business Link in the East of England has revealed that entrepreneurs who seek advice from the service when starting out have an 84 per cent survival rate beyond three years, compared with a 64 per cent national average for those that choose to go it alone.
This percentage increases even further, to 96 per cent when in-depth support is provided by a Business Link adviser, the organisation says.
Pat Smith, chief executive of Business Link in the East of England said: “To ensure that new businesses have the best possible chance of long-term survival and growth, it is important that they are encouraged to access the support they need and for it to be provided when and how they want it.
“What’s clear from the results of this survey is that Business Link is helping more new businesses to survive, and that this survival is linked to the availability of high quality support. This is good news for Cambridgeshire entrepreneurs and for the local economy.”
Last year, Business Link in the East of England helped create over 3,400 new businesses, leading to the creation of 5,626 new jobs.
The successful organisation’s future could be threatened by the planned demise of regional development agencies in 2013.