Research published by data provider Beauhurst and NatWest has suggested that the UK is on track for a record number of new company creations.
During the first half of 2024, there were 468,000 new business incorporations. This represented a 6% rise when compared to last year, the research showed.
Should this continue, Beauhurst and NatWest predict the annual total for company creations could surpass 879,000. The data also showed that there are now around 5.47 million active and dormant companies in the UK.
In the first half of 2024, London experienced the most incorporations of any region of the UK.
Henry Whorwood, Managing Director at Beauhurst, commented: ‘Certain aspects of the economy are firing on all cylinders. UK entrepreneurs are still starting lots of new businesses. This may mark the beginning of a new normal with higher rates of entrepreneurship in the UK economy than known previously.’