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The average new company formation rate in Britain is more that 38,000 a month - with almost half a million new business start-ups this year alone, according to new figures.
Jordans, the UKs largest independent specialist in company formations, business information and corporate services, reported that 456, 320 new enterprises have been set up during 2007 in spite of a series of setbacks.
Despite the problems the sector has faced including increasing tax, regulatory pressures and company legislation business groups say is restrictive, the UK continues to experience a "sustained level" of new business start-ups.
The number firms from other countries within the European Union that are establishing operations in Britain is also on the rise, figures indicate.
Paul Townsend, director of corporate services at Jordans, said: "Entrepreneurs in the South West set up 29,841 businesses in the past 12 months, at an average of 2,487 per month.
"Not surprisingly, by far the lions share of new start-ups was to be found in Bristol, where during the 12 months in question, a total of 10,621 businesses were registered for the first time."
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