County launches most businesses in Wales (From Western Telegraph)

County launches most businesses in Wales

Pembrokeshire saw more business start-ups than any other area in Wales during the first quarter of 2003, new research from Barclays shows.

In addition, Wales was one of the top performing regions nationally, containing three of the top ten areas within the UK - Pembrokeshire, Monmouthshire and Powys came in joint third, sixth and joint ninth respectively.

Pembrokeshire saw 59 business starts per 10,000 head of the working population. Refugees from the rat race are increasingly taking the plunge and choosing to be their own boss. Almost half of new businesses are now started by professionals and middle managers, up 45% from 34% in 1995. At the same time, the proportion of businesses started by skilled manual workers has dropped from 27% to 22%.

The prime age for starting a business is now between 35-44, later than it was in 1995 (25-34). This may indicate that experienced middle managers are increasingly choosing to abandon the rat race and commuting, in favour of being their own boss - often setting up as consultants in a similar field or by turning a hobby into a business.

Jeff Lane, Barclays head of local business for south west Wales, said: "Video conferencing and broadband technology may be helping entrepreneurs to choose their base for lifestyle reasons - ditching the daily commute in favour of the countryside."

Research also shows that the most critical period for a new business is 12-18 months, with 14% of surviving businesses closing in this period.