The latest studies show that a record number of businesses were launched in the UK in 2021, with more than 810,000 new companies being incorporated but sadly, approximately 50-60% of those will fail within three years and up to 20% within just the first 12 months.
Even if a number of those ‘failures’ will be businesses that never really started, it still shows how many Founder’s or Entrepreneur's dreams for their own business never went as planned.
The vast majority of these businesses will of course be SMEs. Even though they are vulnerable to collapse or failure, SMEs are crucial to the UK economy, and by 2020 there were over six million SMEs, representing over 99% of all business in the UK, and employing almost 17 million people.
As we all know, it is not just early-stage businesses that fail, but businesses of every size – as market trends may become unfavorable for any business of any size.
This is because they do not have access to the same level of expertise that larger companies do, due to the fact that they often cannot afford to employ all the full-time staff to provide the whole range of services required to understand the complexities of running a business and how best to scale it.
This is exactly where BOOM & Partners comes in. We can help by mentoring your business on strategy and helping you to scale. Essentially, we provide you with all the expertise you need to help you get investment-ready. We can support you with your Pitch Decks, Business Plans, financial forecasts, valuation, advisory board, and so much more.
We are proud to have launched our "Getting Investment Ready" course this year!
Elite Business TOP 100 SME Businesses 2023 - London
2022 UK ENTERPRISE AWARDS - Best SME Business Growth Consultancy Firm 2022 - London
2022 Winner-Business Elite Awards- Best for SME Business Growth Consultancy, 2022 - London
BOOM & Partners' core services revolve around essential steps that early-stage start-ups need to consider for growth. In short, we save you time, effort, and money, whilst at the same time increasing ...