Serviced office may allow business start-up19th July 2010

A move to a serviced office may be worth considering for those looking to start businesses during the current economic climate.

Slightly more than 50 per cent of office workers in the UK have thought about starting their own business, but administrative demands and start up costs, among other concerns, have prevented them from doing so, according to recent research from Paypoint.

In addition to this, it found 62 per cent of respondents would start their own business if the task were easier.

Kathleen Hall, writer for SmallBusiness.co.uk, suggested the biggest problem for small businesses at present is access to finance.

She said: "If you are a start-up looking for a loan, the chances of obtaining one without having to put your house on the line is slim to none."

The Institite of Directors recently revealed of the 39 per cent of members' firms that applied for finance in the first half of this year, 33 per cent were declined by a bank.

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