The past two years have caused no end of chaos and disruption. Yet, the UK’s entrepreneurial spirit seems unphased. According to Companies House, almost 80 new businesses were created every hour in the first half of 2021. Despite the challenges, new ideas continue to flourish – and long may that continue. However, many businesses don’t make it through their first year. Sometimes the idea doesn’t work in practice, the business model is flawed or the market fit simply isn’t there. But more often than not, businesses fail because they cannot raise the capital they need to continue. According to research, nearly 2 in 5 businesses fold for this reason alone.
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