NEW analysis of Companies House data by Yell Business has revealed that Llandudno is the start-up capital of the UK, with more businesses formed in the Welsh coastal town per capita than anywhere else during 2021.
The report, that looked at every business formed in the UK during 2021, helps to show that, despite another challenging year, the entrepreneurial spirit of the UK is alive and well.
Indeed, more businesses were founded per month in 2021 than in 2020, or even during 2019 before the start of the COVID-19 pandemic.
With an average of 13 per cent more new businesses founded each month in 2021 compared to 2019, the analysis pinpointed which areas of the UK were the most entrepreneurial, by calculating the number of new businesses formed in each location while factoring in population size.
The research shows that big business doesn’t just start in the city; in Llandudno, a total of 16.2 businesses were founded per 100 people in 2021, while Surrey’s Redhill (11.6) and Tunbridge Wells in Kent (10.8) followed.
Cheshire also stands out as being the most entrepreneurial county in the UK, with Chester, Stockport and Warrington all featuring in the top 20.
Further breakdowns of these findings can be found in the full report, published on: www.business.yell.com/sme-insight/the-entrepreneurial-spirit-of-the-uk.
Yell Business used data from Companies House that detailed the businesses formed from the January 1, 2021 to November 30, 2021.
The number of businesses formed within each UK postcode was then calculated against each area’s population size to give a fair ranking of where most new businesses were formed in 2021.
Companies House data detailing the businesses formed in 2019 and 2020 was also used.