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3 New Businesses
An important strategic theme for the Small Business Service is to encourage a more dynamic start-up market and to build an 'enterprise culture', which will boost productivity and economic growth. It is envisaged that such a market will encourage economic efficiency and raise productivity levels in the economy as innovative new businesses will displace less effective competitors.
This chapter focuses solely on newly established businesses; those which are less than four years old or have had a change in ownership in the last three years and the new owner was not involved in the businesses start-up. The chapter highlights some key aspects of starting up a new business (or taking over one) such as: the reasons behind starting up a new business, the obstacles that need to be overcome, banking arrangements, and the sources of advice and information utilised.
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