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UK entrepreneurs are becoming self reliant for starting small businesses

In UK, entrepreneurs are now less dependent on grants except for a few population groups from North-east region, according to the survey report from the Federation of Small Businesses.

London (www.e-business-loans) June 17, 2006: A survey report shows that Small businesses in the North are broadening and becoming more self-reliant.

The Federation of Small Businesses (FSB) in its fourth biennial survey, report that only a small group of companies in the region are depending upon the grant to start their business.

The grant funding has tremendously dropped from 17 per cent in 2000 to 10 per cent in 2006. Another report reveals that North-east region in UK are the highest population that are running their small businesses on the basis of self-financing.

Most of the industrialists use almost 41 per cent of their saving for small businesses and utilize only 26 per cent from bank loans. The number of business owners using overdrafts has also decreased from 67 per cent to 40 per cent.

FSB North-east policy chairman, John Wright says that the data clarify a number of issues. They are moving far from a grant reliant tradition, as the grant fund is dropping from 17 per cent in 2000 to 10 per cent now.

Mr. Right also emphasized to find out why small business community people are not in favor of external support for financing their small businesses.

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