Record numbers of new businesses being created
More UK businesses were set up between April and June this year than in any second quarter in history.
According to new research by tax accounting firm Ember, 190,639 companies were incorporated on Companies House from the beginning of April to the end of June 2021.
This figure equates to 2,095 new businesses every day, or 87 ever hour.
Previously, the high mark for Q2 was 176,115, which, despite the pandemic, was actually recorded in 2020.
This shows that the UK is producing more entrepreneurs than ever before.
The first quarter of 2021 was even more prolific than Q2, with more than 200,000 businesses created.
Taken together, the first half of 2021 has almost surpassed the total number of incorporations for the whole of 2011 (440,638).
Looking ahead to the end of 2021, the UK is on course for its biggest ever number of new businesses in a calendar year – potentially more than 800,000 in total.
Ember co-founder Daniel Hogan said: “July of 2020 seems to have been the starting point for a new business boom in the UK – the third quarter of 2020 saw the highest number of business incorporations in British history.
“That has been followed by three more quarters of impressive growth, and it’s great to see so many new companies being created.”
- COVID-19 has spurred a proliferation of new business registrations, with many entrepreneurs spotting an opportunity to find a place in the post-pandemic economy
- Starting a new business has never been easier with almost universal access to information and digital technologies
- If you’re looking to start a business, head over to the UMi platform where we can help get you started: https://www.weareumi.co.uk/webapp/starting-a-business/getting-started-in-business/