Rise in business start-ups as entrepreneurs follow their dreams during lockdown

Development Bank of Wales looks at the rise of entrepreneurial spirit in Wales with a new way of living having inspired record numbers to start their own businesses in 2020.

With a significant uptake of businesses looking for start-up funding, the statistics from the Development Bank are consistent with broader reports across the UK. Figures released by the Centre for Entrepreneurs and Companies House have revealed an upsurge in the registration of new businesses of all sizes since 2014 with business formations having reached a new record of 772,002 in 2020, growing 13.25% since 2019.

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