My recent post spoke about company formations in the UK reaching record levels.
Companies House data has just published updated data for Q4 2020. 210,820 companies were created. This is up 29.4% on the same period last year and is the largest uptick since Q4 2012 when this information was first tracked. It follows a a record breaking Q3.
On the downside over 161,000 entities were dissolved or in the process of being dissolved in Q4. (This figure is distorted slightly by Covid related process 'easements' depressing the numbers earlier in the year.)
Not all of these will be pure start-ups - incorporations include corporate subsidiaries - but the direction of travel is clear: more people are starting up more businesses. If we can do more to support these startups to improve the the 'three year survival rate', a key indicator of business sustainability, the most robustly Britain will be built back.
On the downside over 161,000 entities were dissolved or in the process of being dissolved in Q4. (This figure is distorted slightly by Covid related process 'easements' depressing the numbers earlier in the year.)
Not all of these will be pure start-ups - incorporations include corporate subsidiaries - but the direction of travel is clear: more people are starting up more businesses. If we can do more to support these startups to improve the the 'three year survival rate', a key indicator of business sustainability, the most robustly Britain will be built back.
