Over 370,000 start-ups launched in the UK already this year
Companies House data suggests 80 businesses are being created every hour with company formations "showing no signs of slowing down"
2016 looks set to be a record year for entrepreneurship with some 371,583 new UK businesses registered so far this year (January 1 to July 14 2016), and over 14,000 businesses registered in the first half of July alone.
According to StartUp Britain's ‘startup tracker' – compiled using data from Companies House – 608,110 new businesses launched in 2015, following 2014 where 581,173 businesses were launched.
2016 is on track to break records again with “no slowdown in company formations” despite the Brexit result having raised some uncertainties.
Driving down on the figures, StartUp Britain estimates that over 80 new businesses are being registered in the UK every single hour, an increase on the 70 new businesses registered every hour last year.
Outside of London – which has one of the highest start-up rates – the cities with the largest number of company formations for 2016 so far include Manchester, Glasgow, Leeds and Edinburgh.
Matt Smith, director of the Centre for Entrepreneurs which runs StartUp Britain, said of the tracker results:
“Entrepreneurship is a personal endeavour and there will always be risk and uncertainties. Britain is on-track to beat last year’s record figure for start-ups. […] There’s been no slowdown in business formation – entrepreneurs by their nature will rise to the challenge.”
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