Hope for the future – Covid startups kick off entrepreneurial recovery

A record-breaking number of new business formations in June offset a major drop in registrations during lockdown and suggests the beginning of an entrepreneurial recovery. These are some of the findings from analysis of Companies House data by the Centre for Entrepreneurs (CFE)

Overall startup figures between March and June are down by only 3%. London emerged from lockdown with 6% more new businesses than the same period last year.

“June’s growth in business formations suggests that entrepreneurs’ confidence has returned and that many new ideas developed during lockdown are now being implemented” said Matt Smith, director of policy and research at CFE.

“With many businesses set to close, and unemployment rising, it is entrepreneurs that will drive Britain’s much-needed economic recovery and create new jobs” said Oliver Pawle, chairman of CFE. “These figures provide reassurance that there is a ready supply of new ideas and growing sectors across the UK”.

Click Here to read the full report or download the data.

North-eastern company, Transmit Startups, understand the challenges of starting a business because all three of their directors and other members of their team have run their own companies.

In a recent news blog, Transmit Startups looked at some of histories entrepreneurial success stories whose founders chose to start a business during a recession.  There are many positive reasons to start a new business during an economic turndown and there is plenty of training and financial support available.

Read the full news blog HERE.

At StartUp Croydon, we are once again running our full programme of courses and workshops at Weatherill House Business Centre.  Find out whether self-employment is for you by attending our free half-day seminar – designed to give would-be entrepreneurs an insight into the time commitment and risks involved in setting up a business as well as the benefits and rewards.

Or book our monthly signature 3-Day Business Training course (for just £25 inc VAT) to learn all of the basics that will provide the foundations to help you to make a success of your business.

All of our training courses can be booked through the Events Page on our website.  Subscribe to our newsletter from the link on the home page to receive monthly updates on all that we have to offer including any ad hoc workshops and events.