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New Businesses

Volume 76: debated on Wednesday 3 April 1985

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asked the Secretary of State for Trade and Industry what is his estimate of the average annual turnover of a new business in its first, second and fourth years respectively.

Those traders which register for VAT provide turnover information but there are too many uncertainties for estimates to be made in the form requested; we have no knowledge of when a business starts to trade and many businesses never register for VAT. The problems were discussed in the article "Business starts and stops: analysis by turnover and sector of trade, UK 1980–83" (British Business 18 May 1984) copies of which were placed in the Library.