Figures released today by the Department for Work and Pensions (DWP) show 80,830 start-ups in trades like electrical installation, graphic design and jewellery-making have been launched between April 2011 and December 2015 – an average of 1,420 a month.
Of the New Enterprise Allowance (NEA) businesses set up, approximately:
- 30,300 (37%) were by women
- 19,000 (24%) were by people aged over 50
- 16,400 (20%) were by people with a disability
Employment Minister Priti Patel said:
“The New Enterprise Allowance is one of the great success stories of this government’s drive to get more people into work, as the UK’s employment rate stays at a record high.
“Small businesses are the engine room of the UK economy, and by helping people off benefits and to become their own boss we’re enabling them to make the most of the business opportunities out there at the moment.”