... and now start-ups hit brick wall after EU referendum

THE growth in the number of new companies launched in the UK has slowed dramatically since the summer Brexit vote, according to data exclusively compiled for The Mail on Sunday.

The volume of firms newly registered at Companies House had been soaring prior to the referendum, but then the rise almost ground to a halt. In the 100 days since June 23, fresh registrations crept up by 1.5 per cent to 152,713 but that compares with a 12 per cent rise in the number of firms launched in the first six months of the year.

The figures – compiled by company health monitor Creditsafe – appear to confirm suspicions that since the referendum some entrepreneurs have hesitated to press ahead with new ventures amid political and economic uncertainty.

Last year, the number of companies registering in the first half rose 6 per cent to 302,527. While the rate also slowed in the summer of 2015, it was much less marked. The number of start-ups rose to 4 per cent over the comparable 100 days from the end of June to September.

David Walters, data director at Creditsafe, said: ‘We don’t know what impact Brexit will have yet. It’s going to take us time to exit officially and only over the longer term will we see the effects.’

France and Germany have also seen a reduction in the number of new businesses being registered since the summer.

Economic indicators since the referendum continue to be mixed. The latest came on Friday when a YouGov poll of business leaders suggested that confidence had returned to pre-vote levels.