A COMMUNITY of ‘recession baby’ businesses is not only surviving but thriving in Milton Keynes.
Barclays in the new city has found that more than 10 per cent of the 299 businesses set up in the teeth of the recession in 2007-2008 were achieving a turnover of £100,000 or more in their second or third year.
Matt Kirwin, area manager for Barclays in Milton Keynes said: “What makes this so extraordinary is that these businesses are ‘recession babies’ – born, grown and succeeding in the current markets. Clearly, there are a lot of opportunities out there for start-ups which our entrepreneurs are aggressively going after.”
Barclays didn’t have information on what has happened to the other 90-odd per cent of young companies but they’ve taken it as proof that the dream of setting up a successful firm is alive and kicking.
Mr Kirwin added: “The record numbers of start-up businesses is partly the ‘Dragon’s Den’ effect – seeing inspirational people on television who are following their business dreams. We’re also seeing a new generation of young entrepreneurs who have learned about business at their school – which is exactly as it should be.”