The startup scene in the UK has seen exponential growth over the past few years. However, a few statistics can help to gain better insights. According to a Business Statistics paper submitted by the House of Commons library, 810,316 new businesses launched in the UK at the end of 2021. And according to the reports, this figure means an approximate hike of 21.8% as compared to 2019.

Today, more than 99.9% of all UK business is either small or medium-sized, which means that the number of employees in each of these companies are somewhere around 250 or fewer. The most recent report conducted by the UK Government depicts the presence of approximately 5.58 million active SMEs. Additionally, the United Kingdom also houses around 7655 large scale businesses, which have more than 250 employees.

However, the industry of small businesses really bore the brunt of Brexit and the COVID pandemic. And there has been a significant impact in the industry of small businesses as well. The cost of living is reaching record highs and the number of small businesses in the UK declined to 5.5 million. In 2020, the number was 5.9 million indicating a significant decrease of around 6.6% between 2020 and 2021. This is around 23% higher than the rate of business failures during the previous year.

According to a source, around 20% of businesses fail in the UK within their first year. And this number goes up to 60% in the first 3 years. However, it's not always the new businesses that take the fall. The report also reveals that only one in three businesses usually survive for up to a minimum of 10 years.

It's very evident that starting a new business is challenging and for some, it doesn't work out. Businesses start out with an idea but putting that into execution is a daunting task. Furthermore, it includes extensive research. But proper guidance and support can be game-changing.

Companies like Free Company Setup aim to make this very process straightforward and hassle-free. The team helps you set up an LTD company without any fuss or complications.

For those interested to know about it, the process is quite simple. You need to fill out the 5 minute registration form after which one of the formation experts will reach out to you to discuss your requirements. Then starts the processing of your form which might take up to 24 hours. Free company registration, free business bank account and a free 30-minute call with an accountant for the best advice- Free Company Setup covers all these aspects.

Apart from the free services, the company offers additional paid ones as well. This includes 2 months free business insurance on signing up for a full year. They offer 5-page websites starting at £499. Their in-house development team takes care of this entirely on a budget according to your convenience.

The free package is ideal for those who are just starting out and it includes support regarding company formation, business banking and some exclusive discounts. As the owner of the company, you will own 100% of it unless there are some other shareholders. And you get complete data privacy as your contact details will only be shared with the third parties if you give consent.

Apart from helping with the formation of your company, Free Company Setup also offers a wide range of extra services like telecoms, accounting, marketing, sales, web design, credit/finance, and so on.

The small business industry is quite volatile and factors like lack of capital, non efficient management team, flawed business model and so on can lead to its downfall. Setting up proper business objectives and goals and taking the right steps at the right time can really help to avoid those pitfalls. While forming your business, you cannot afford to choose the wrong company formation agent as the stakes are high. The formation agencies take care of the paperwork so that you can save time while making sure everything is being done accurately.

Free Company Setup has been delivering great services since 2020 and is worth checking out, especially if you are looking to kickstart your business. If you’re interested, feel free to reach out to their team.
Contact Us:

Company Name- Free Company Setup LTD
Phone- +441164824592
Whatsapp- +441164824594
Email- admin@freecompanysetup.co.uk
Website- https://www.freecompanysetup.co.uk
https://www.freecompanysetup.co.uk/getstarted.php