New company formations grew by more than 13 per cent in 2020 as Britain was hit hard by the pandemic.
There were a record 772,002 businesses registered at Companies House last year, compared with 681,704 in 2019, according to official data gathered by the Centre for Entrepreneurs.
After a dip around the time of the first national lockdown, every region experienced continual growth in business start-ups from June onwards, even through further lockdowns and restrictions intended to contain Covid-19.
There was marked growth in the creation of companies related to the crisis, including the manufacturing and retail of medical goods, which increased by 111 per cent and 146 per cent, respectively, compared with 2019.
Workwear manufacturing rose by 166 per cent, while disinfecting services increased by 229 per cent. New retail businesses have increased by 60 per cent, including 43,217 online shops, marking a rate of growth of 105 per … Read the rest...