Last year, 581,173 new businesses launched in the United Kingdom, up by 55,000 on the year before.
There are several theories about why start-ups are registering in such high numbers, from growth in the economy following recession and austerity to more people opting to work for themselves rather than continuing to be wage slaves or starting businesses precisely because they were having difficulty finding a job.
Sadly, it’s to be expected that many of these start-ups will fold as quickly as they were formed. Circumstance can be cruel to the sole trader.
One thing is for sure though, where there are concentrations of budding entrepreneurs setting up businesses, there are jobs to be had.
According to the StartUp Britain’s daily tracker – an online tool that measures how many new businesses are being registered – last year was the third year on the trot that the number of start-ups has increased and 2015 looks set to following that path.
Government initiatives have helped with StartUp Loans, a government-backed organisation offering advice, mentoring and loans, having an impact. More than 25,000 new companies have benefited from loans since it was established in 2012, the Guardian reports.
Around the country there are obvious start-up hotspots and these areas stood out in both 2013 and 2014. The most start-ups happened in London, which may come as no surprise, but both Manchester and Birmingham saw rises with the West Midlands city seeing the most new company formations outside the south of England.
Seaside towns in the south of the country saw fairly high numbers of start-ups too – Brighton and Hove leading the way thanks to its burgeoning reputation as a tech-friendly city. In the north, however, only Blackpool and the Fylde area showed a demonstrable rise, mainly in the tourism industry.
Outside London, south Buckinghamshire had the fourth highest level of start-up businesses last year with 49 start-ups for every 1,000 people. In the north west there were clusters of start-ups around Greater Manchester with Warrington seeing 3,974 new companies, or 19.7 per 1,000 residents, and the borough of Trafford showing strongly at.3,055 or 13.5 per 1,000 people.
Tewkesbury saw 1,502 new firms (18.3 per 1,000 people) and Lincoln was also a healthy contender with 17.9 start-ups for every 1,000 people.
The main sectors experiencing a rise in new companies forming include engineering, IT, research and development, design and manufacturing consultancies.
So if you’re thinking about looking for a new job, follow the new entrepreneurs…
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