Starting a business in the UK has never been simpler than it is now, according to serial entrepreneur Luke Johnson. The British businessman and Chairman of the Centre for Entrepreneurs cited new technology as the reason why a record number of people are taking the leap and setting up their own businesses.
The latest figures collated as part of StartUp Britain – a Government-backed campaign run by the Centre of Entrepreneurs to inspire and accelerate new enterprises – revealed that 581,173 start-ups were registered with Companies House in 2014. This increased from 525,426 in 2013 and 484,234 in 2012.
Mr Johnson said: “Starting a business is easier, quicker and cheaper than ever thanks to technology. Entrepreneurs have higher profiles than in the past and are seen as role models. Traditional jobs for life have largely disappeared, as have occupational pensions.”
More start-ups are staying afloat as well, with the number of failing businesses changing from 253,000 in 2014 to 238,000 in 2013 (a 6% reduction).
Where are the top entrepreneurs in the UK located?
Using a tracking tool to keep count of newly registered businesses throughout the year, an entrepreneurial map was created revealing exactly where Britain’s top performing ventures are based. Unsurprisingly, the largest number of start-up businesses can be found in London and the South East.
However, an upward trend in entrepreneurship outside of the capital city was also detected from the statistics. Birmingham is the top performing city outside the South East, while Manchester is considered the hot spot of the north as a result of the booming entrepreneurial activity. High levels of new business growth were also recorded in the Yorkshire and Humberside, along with the East Midlands.
For tips on how to set up your business in the UK, check out our simple infographic guide.