StartUp Britain has recently released a report into the level of of new businesses created in 2014, a total which eclipsed the previous record by more than 50,000.
The figures come directly from StartUp Britain’s StartUp tracker, which is a tool that reveals the number of businesses registered with Companies House daily. The annual figures, which were taken on December 31st 2014, stand at a staggering 581,173 companies registered last year!
Along with the release of the report, StartUp Britain created a UK map with the ‘Entrepreneurial Hotspots’ highlighted, as well as showing how many companies were registered in each region.
The hotspot map demonstrates that Greater London retains its ‘entrepreneurial powerhouse’ status, but it also shows the level of growth around the country. Birmingham is by far the most entrepreneurial country outside the South West with 18,337 new companies registered last year and Manchester is striding ahead of the other Northern cities with 13,054. Both cities showing an increase of around 2,000 on the 2013 figures.
Chairman of the Centre for Entrepreneurs and serial entrepreneur Luke Johnson suggested that technology has helped the process of starting a business “Starting a business is easier, quicker and cheaper than ever thanks to new technology”.
As shown above in the 2013 version of the report, there has been a large increase in the creation of businesses all over the UK, with the top 3 entrepreneurial hotspots remaining the same. Another very significant statistic from this year’s findings, is that the number of companies dropping out of Companies House registration is 6% less than the year before, from 253,000 to 238,000.
The increase in business registrations both inside and outside of Greater London, as well as the fact that less companies appear to be failing, is great news for the entrepreneurial ecosystem in Britain.