With a Record-Breaking 770,000 New UK Businesses, 2020 Has Been Named ‘Year of the Start-Up’

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With a Record-Breaking 770,000 New UK Businesses, 2020 Has Been Named ‘Year of the Start-Up’

Recent research has shown that a huge 770,000 businesses were created in 2020, which is a record for the UK.


The number of start-ups grew by 30 percent when compared to the previous year, in figures reported from Tyl by NatWest. In every month apart from April, there were 50,000 new businesses each month.

Due to coronavirus and the closure of many high street shops, lots of entrepreneurs have made the most of the situation and set up digital businesses. It’s no surprise, that online and mail-order shops make up the majority of new companies in 2020.

In 2019, there were 13,615 online and mail order businesses created, with that rising to a massive 305,608 in 2020. Buying and selling property has also performed well in the past year, with growth of over 40 percent compared to 2019. Again, the number of takeaway shops has increased by 33 percent compared to the previous year.

The coronavirus pandemic, unfortunately, affected the female workforce 1.8 times more than men, so many women turned to new sources of revenue, such as Etsy, to make an income. 81% of Etsy sellers identify as women, with 69 percent of sellers considering their Etsy store a business. The platform has gained over 900,000 new sellers in 2020.

Leicester had the greatest rise in new enterprises created when compared to the city’s population. There were 1.68 new businesses, for every 100 residents. This is even more impressive, considering that Leicester was one of the cities in lockdown for the longest period of time.

Mike Elliff, the CEO of Tyl, has shared his thoughts on the research: “Despite the many challenges faced by businesses, communities, and the world at large, the resilience and resourcefulness of Britain’s entrepreneurs is one of the great untold stories of the past year.

“The enterprising energy of new business owners deserves great credit. And while we all look forward to a world without lockdown restrictions, let’s hope the spirit of our agile, innovative and fearless start-up communities can endure long into the future.”

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