While 2020 may not have felt like an obvious year in which to launch a new business, the U.K.’s entrepreneurial spirit appears to be undiminished. The latest data on startup businesses suggests we are well on the way to matching the record 673,000 new companies registered during 2019. And this year’s startups are spread the length and breadth of the country, setting up shop in traditional hotspots for new ventures, but venturing further afield too.
Data from the talent innovation company SHL suggests London has topped the rankings so far this year for new business startups. Its analysis reveals 131,000 companies were launched in the capital during the first eight months of the year alone, a 22% increase on 2019.
In second place, Birmingham saw almost 11,700 new launches over the same period, SHL’s data shows, up 21% on 2019, while Leicester is home to 6,400 new companies, a 27% increase. But it’s not only the largest cities that make SHL’s top 10; Droitwich in the Midlands, Waterlooville in Hampshire, and Ruislip in the South-East all have impressive numbers too.
Moreover, when you adjust the data to analyse business startup rates on the basis of population size, different winners emerge. In separate analysis just published by the flexible workspace company Instant Offices, Portsmouth and Bradford come out ahead of London. Given their size, these cities have produced more startup businesses so far this year than the capital, Instant Offices’