The number of small business entrepreneurs in the UK has leapt by 117 per cent in the last five years, according to Experian. The massive growth in one or two man band businesses has fuelled a 41 per cent increase in the total number of companies in the UK.

Experian’s business data also shows that these small businesses over the last five years have also managed to maintain the lowest insolvency rate and second healthiest financial strength score compared to other types of businesses.

Research from business intelligence compnay Creditsafe reveals that nearly one-in-10 companies will avoid trading with a business if it is less than a year old.

These company owners and operators are discriminating against start-up companies when looking at new customers, suppliers and business partners, preferring to trade with enterprises that have an established financial and credit history.