New figures reveal record breaking year for start-ups
- London and South East maintain entrepreneurial power house status
- Birmingham top performing city outside of South East
- Entrepreneurial activity in Manchester booming, making it the hot spot of the North
- High levels of growth in Yorkshire and Humberside, and the East Midlands
UK entrepreneurs created a record number of new businesses in 2014, according to new figures from StartUp Britain announced today.
Research from the national enterprise campaign, run by the Centre for Entrepreneurs think tank, shows 581,173 businesses were registered with Companies House, beating the previous record of 526,446 businesses recorded in 2013, and 484,224 in 2012.
Top performers on the entrepreneurial map according to post code include Greater London with 184,671* businesses registered, spearheading entrepreneurial growth in Britain, followed by Birmingham with 18,337 and Manchester with 13,054. A clear upward trend in the number of businesses starting up outside of London is positive news for the health of the entrepreneurial ecosystem in Britain.
“Starting a business is easier, quicker and cheaper than ever thanks to new technology,” said serial entrepreneur Luke Johnson, Chairman of the Centre for Entrepreneurs.
“Entrepreneurs have higher profiles than in the past and are seen as role models. Traditional jobs for life have largely disappeared, as have occupational pensions.”
Figures from the Office for National Statistics cited in the Sunday Times suggest that as well as the rise in start-ups, there has been a marked drop in the number of business failures. With the number of firms dropping out of the Companies House register falling 6%, from 253,000 to 238,000, last year.
The annual figures comes directly from StartUp Britain’s StartUp tracker, an online tool which reveals the number of businesses registered with Companies House on a daily, monthly and yearly basis – the annual figure cited here, 581,173, was taken on December 31, 2014.
The numbers come directly from Companies House and 2014’s figures will be audited in March 2015.