The Association of Business Recovery Specialists, R3, the body representing business rescue professionals, today contradicted the government’s latest figures for failure of start-up businesses and called for a massively increased education programme to stem failures by first-time entrepreneurs.
The DTI’s figures show a 4% improvement in the failure of three-year old businesses between 1993 and 2000.
"R3 thinks these figures must be treated cautiously", said R3 president and chairman of Kroll Worldwide, David Buchler: "Whilst a 4% decrease in failures over seven years appears positive, R3’s own more recent figures show that the rate has risen back up to 41% in just one year. In any event, a failure rate of between 36% and 41% has to be unacceptable.
