The latest quarterly start-up figures from Barclays show that 17,500 people embarked on new business venture in the construction sector in the first quarter of 2007, the highest quarterly volume since Barclays started tracking individual business sectors in 2003.
London, the South-East and Wales led the way with construction starts up by more than ten per cent over the past year.
The high level of construction related starts is even more marked as all other business sectors saw the number of start ups fall. Overall start ups were 12 per cent lower in the first quarter of 2007, compared to the same period of 2006, with construction start-ups increasing by six per cent in the same period.
John Davis, marketing director for local business at Barclays said: “The British public have always been big DIYers with a record £10.7 billion spent last year, but now many of these same people are taking that interest and turning it into a business, whether they are plasterers or property developers. There doesn’t seem to be any let up in our national property obsession and with getting up the property ladder continuing to be our number one collective goal in life, it doesn’t seem likely that there will be a shortage of construction entrepreneurs in the future.”
Highlights:
Construction sector:
- 17,500 set up their own business in the construction sector in quarter one 2007 compared to a mean quarterly figure of 13,200 in 2003-2006.
- Regional highlights – London increased by 29 per cent, Wales 13 per cent and South East 12 per cent in quarter one 2007 compared to quarter one 2006.
- The total number of businesses started up in quarter one 2007 was 105,800 compared to 119,800 in the same period last year.
- The sharpest decrease was in the wholesale sector which recorded 3,100 people setting up their own business in quarter one 2007 compared to 4,100 in the same period of 2006.
- The number of businesses started by females in quarter one 2007 was 20,100, for men 72,600 and those involving both genders 13,100.
