Almost 80 new businesses were created every hour across the UK in the first half of 2021, according to research by iwoca – one of Europe’s largest small business lenders.
Analysis of Companies House data reveals that 340,534 businesses were registered in the UK between January and June 2021, an increase of 32% from 257,243 over the same time period in 2019.
London dominates list of areas to start a business
iwoca’s Small Business HotSpots UK 2021 reveals that Camden saw the largest number of businesses registered out of all UK local authorities, with 19,755 new companies – a rate of more than 4 and a half new firms every hour. The second largest number of new businesses were registered in Hackney (13,646) followed by 10,151 in Westminster. London’s local authorities make up half of the top 10, which also includes Birmingham in 5th with 7,442 new firms and Kent placing 7th with 6,504 businesses.
London saw over one third of the new registrations with 120,338, followed…