Almost 500,000 new UK startups amid pandemic

Almost a half-million new businesses were registered in the UK over 2020 despite - or, more likely, because of - pandemic lockdown restrictions, according to a new survey.

Research conducted by online printing specialists Instantprint and based on data from the government's Companies House, the survey found that 468,371 startups were registered last year."Owing to the unpredictable impact of Covid-19, a reported 9.9million UK jobs were furloughed between April and December last year, resulting in many UK adults pivoting their careers, starting completely afresh and picking up a side hustles as a way of making money during the turbulent year," Instantprint reported.The retail sector - online and via mail order - comprised the most popular sector with  22,011 new registrations, followed by management consultancy (16,869), real estate (16,747) and road freight transport (10,848).London was by far the most popular venue for startups with 123,462 registrations, followed by Birmingham (11,165), Manchester (9,684) and Glasgow (6,166).Follow-up polling research found that 18 per cent of UK adults had firm plans to start their own businesses in 2021, with a further 29 per cent considering doing so.Millennials were found to be most likely group to want to launch a startup (32 per cent), whilst almost 40 per cent of those aged between 18-24 were willing to consider doing so.
24 were willing to consider doing so. Those living in London, Birmingham, Bristol, Manchester and Newcastle emerged as the people most likely to start their own business this year, while Liverpool residents were the least likely.While Covid-19 restrictions remain in place, the survey found most of those launching a new business in the first quarter of 2021 planned to do so from home.Laura Mucklow, Instantprint UK brand manager, said: “There really has been no easier time to run a business out of your home, and it’s great to see the number of business ventures being embarked upon by UK adults, despite the events the year has presented us with.“Whether you’re looking to start a side hustle or start a fresh with a complete career change, the sky’s the limit in terms of opportunities. It’s about finding something that works for you, and making sure you’re fully equipped to market and promote your start-up, wherever you run it from.“Judging by results of our survey, 2021 looks to be another booming year for startups and we’re keen to see what the new year brings.”

Read more news and views from David Sapsted.

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