Record year for UK’s start-ups as 700,000 firms launched

Business Leader reports on the increase in business formations last year.

Data shows that 681,704 were birthed in Britain, as growing high-tech firms snapped up more than £10bn in venture capital investment.

This is a record number, and considered especially noteworthy as it comes during a period of productivity stagnation and prolonged uncertainty amid a third year of Brexit negotiations which has hit business confidence and investment.

“It is encouraging that despite a politically turbulent year in which business confidence hit new lows, business formations continued to set records,” said Matt Smith, director of policy and research at the Centre for Entrepreneurs (CfE).

Read the full article here