Almost a 50 Percent Spike in June Start-Ups From Entrepreneurs

Rebecca Arkell | 5 October 2020

During the past few months we have seen a pleasing spike in the number of entrepreneurs setting up new businesses at our self storage and flexible office sites, from Telford to Cardiff and Leicester to Bristol.

And, it seems, they aren’t just doing this under the Storage Giant roof. The Centre For Entrepreneurs findings, based upon data from Companies House, shows that June saw a record number of new businesses being started. In June this year, there were 77,574 new company formations compared to 52,779 in June 2019, a 47 percent growth.

Some of the biggest increases came among companies which are in the so-called ‘COVID economy’ so there was a 400 percent rise in firms offering disinfecting services, a 317 percent increase in the retail of medical goods and an 85 percent hike in businesses offering specialised cleaning services.

There was also an 110 percent increase in new internet retail businesses as locked down households changed their shopping habits.  A total of 13,904 new online firms were started in June. Our own experience feeds into those trends. In the past month we have spotlighted start-ups at our Storage Giant sites including Heath Cycle Service, which has been given a boost by the fact that more people are returning to cycling in order to boost their fitness during lockdown. We also highlighted the ongoing success of Urban Trading, a firm which has benefited from the fact that people are setting up offices at home and are spending more of their time at home, so they want a comfortable, functional environment to live and work in.

In terms of location, all regions saw growth in business formations, with London and the West Midlands on top with 60 percent increases.

If you have spotted a gap in the market and are keen to turn your bright idea into a reality, we can offer low-cost, low commitment office and start-up space – from just £44.42 a week.

Find more details here: https://www.storagegiant.co.uk/office-space