Number of UK start-ups reaches record high

351,000 new businesses launched in 2014 - the highest number since records began in 2000

Latest figures from the ONS 2014 Business Demography report show that the number of UK start-ups has reached record levels with some 351,000 new businesses launched in 2014; the highest number since records began in 2000.

The total number of active businesses in the UK has also increased, rising 4% to reach a record 2.6 million.

Despite a surge in start-ups and active companies, the figures show that the number of ‘business deaths’ has also risen with 246,000 business closures last year – 3.5% higher than in 2013.

Small business finance provider Ashley Finance said that “successive waves of redundancies during the downturn has helped to create a new generation of entrepreneurs”:

“Advances in IT have made it easier to set up alone, while ‘celebrity entrepreneurs’ such as Richard Branson have inspired people of all ages and backgrounds to run their own business.”

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