Abstract
Recession and subsequent recovery present great entrepreneurial opportunities for those intending to start and grow their business. However, despite numerous initiatives by the UK government offering substantial financial and technical supports, aspiring and entrepreneurial individuals continue to be put off by myths and shocking tales of business failures during such difficult times. This article re-examines some of the myths surrounding the development of a business venture under the current economic climate, and shows that many of these are in stark contrast to the facilitating legal and commercial realities. Having said that, this brief overview is not intended to replace formal legal and taxation advice, but to provide an overview of the relevant rules to the entrepreneurs.
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