A recent study carried out by Tax app Ember has found that the UK is on course for 800,000 new companies to be created this year – the most ever recorded in a single year.
Ember analysed data from Companies House, the UK’s registrar of companies, from the start of April up until the end of June 2021, and concluded that over 190,639 new businesses were registered across the country during this period, equating to 87 businesses every single hour.
This is the first time the UK has ever hit such a milestone, and is an encouraging sign that industries across the country are beginning to recover after the chaos caused by the COVID-19 pandemic.
In the first six months of 2021, 402,007 businesses have been created in total, which is close to surpassing the 440,638 new companies incorporated in the whole of 2011.
The number of new businesses totalled 768,777 in the calendar year of 2020, an average of 192,194 per quarter, or 2,106 each day.
Commenting on the study, Ember co-founder Daniel Hogan said: “July of 2020 seems to have been the starting point for a new business boom in the UK – the third quarter of 2020 saw the highest number of business incorporations in British history. That has been followed by three more quarters of impressive growth, and it’s great to see so many new companies being created.”
The table below shows the top ten quarters of new businesses incorporated over recent years.
| Rank | Year | Quarter | Number of new businesses incorporated |
|---|---|---|---|
| 1 | 2020 | Q3 | 221,020 |
| 2 | 2021 | Q1 | 211,368 |
| 3 | 2020 | Q4 | 201,820 |
| 4 | 2021 | Q2 | 190,639 |
| 5 | 2019 | Q1 | 182,742 |
| 6 | 2020 | Q2 | 176,115 |
| 7 | 2016 | Q2 | 172,935 |
| 8 | 2016 | Q1 | 172,096 |
| 9 | 2017 | Q1 | 170,143 |
| 10 | 2019 | Q2 | 169,976 |
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