Starting and sustaining a business in the UK can be challenging. Each year, thousands of new ventures are launched, yet the majority struggle to survive. According to the Enterprise Research Centre’s latest report, of the startups founded in 2020, fewer than half (47%) were still operating three years later, and only one in ten will reach their 10th anniversary.
With 801,006 new startups registered between 2022 and 2023 – a 6.4% increase – competition for skilled talent remains fierce. To stand out, startups must provide more than competitive salaries and one area gaining attention is employee benefits, which can accelerate growth and enhance competitiveness.
Startups are as vital as ever to the UK’s economy, with nearly 860,000 new companies registered at Companies House between 2022 and 2023.
