UK Business Start-Ups Grow by 28% in a Year but London not leading the growth.
This startups growth was fueled by the regions, with the slowest growth in London (21%). Brightons growth was rlow in cam parison to some other cities at 30%.
The number of new business start-ups has grown by 28% across the UK over the past year, according to an analysis of Companies House data by Instant Offices.
The increase in start-up businesses across the UK has been driven by the regional cities with Nottingham showing the highest concentration of new business registrations; 68% more companies were started in 2014/5 compared to the previous financial year in the city.
London experienced some of the smallest proportional growth across the UK at just 21% but which, in totality, still demonstrates a significant increase in new start-ups.
The increase in new companies appears to be particularly strong in the Midlands and North; cities in these areas increased proportionately faster than their southern counterparts, including the Capital.
Tim Rodber, CEO of Instant Offices says: “Demand for office space has been very strong in the regions for the past year but the aggressive growth of starts up in particular shows, in our view, a shift in the balance of the workforce and the way they are working.
“The UK’s contingent workforce – those freelancers, consultants, and one-man companies – are acting as sources of growth and innovation across the country and this is symbolized by the increased demand for flexible office space. We can track this by the increase in demand for one to two desk requirements in offices across the country. Nottingham, for example, saw a 37 per cent increase in new office enquiries from 2014 to 2015, obviously driven by these increases in start-ups.”
“Start-up growth and demand for offices has been driven by London since 2010 but now the balance has shifted to the regions where, perhaps, renewed confidence in the economy is seeing growth in entrepreneurialism. I should be clear that London is, of course, the largest market for such growth, but the demand in smaller markets is remarkable and this is symbolized by growth in Nottingham, Leicester and ond similar sized cities.”
Startups Growth Stats
- City Leaders
- % Increase / Decrease in Registrations
- Number of Startups this year
- Newcastle Upon Tyne
Instant has highlighted several sectors with key growth data. These are all available as heat maps to illustrate where these businesses are opening across the Capital.
About Companies House
Companies House is a Government organisation with which all limited companies need to register by law.
About the Instant Group
The Instant Group has been delivering innovative property solutions since 1999, redefining the property sector by putting our clients and their business strategy at the heart of everything we do.
Our team of experts find, create and manage workspaces that help clients grow and thrive, leveraging our global network to procure the perfect serviced offices and to develop and deliver bespoke workspaces in a unique way.
Every year The Instant Group sources flexible property solutions for over 7,000 businesses through our dedicated serviced office broking company, Instant Offices.
With offices in London, Berlin, Dallas, New York and Sydney, The Instant Group employs more than 100 experts and has clients in 113 countries.
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The London & South East business startups news post was written “By Mike Armstrong”