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New businesses in UK increase by 14%

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The number of start-ups launched in the UK rose by 14% in the last year despite the impact of the pandemic, outpacing the global average of a 6% increase in new businesses. A study by UHY Hacker Young shows that there were 726,000 new businesses created in the UK in 2020 compared to just over 636,000 in 2019. Data from HMRC also shows that in March 2021 more new businesses were created than in any other month since records began in 1989. Martin Jones, partner at the firm, said: “Entrepreneurs in the UK have really used the pandemic and lockdowns as a springboard to start businesses. It’s exciting to see British people find the positive in the last 18 months. The entrepreneurial spirit in the UK is undimmed.”

 

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