New research has revealed that more British businesses have been set up at the start of this year than any first quarter in history.
The study by cloud accounting company Ember found that from January to March this year, 211,368 companies were incorporated at Companies House.
That equates to 2,349 brand new businesses each day, or 98 every single hour.
It marks the first time that the opening quarter of a year has seen more than 200,000 companies created in the UK.
The previous high mark for the first quarter of a year was in 2019, when the first three months saw the creation of 182,742 new businesses.
Only one quarter has ever seen a higher number of incorporations – July, August and September, the third quarter of 2020, when 221,020 start-ups were created.
As a result the number of businesses started at the beginning of this year is the second highest total since the creation of Companies House in 1884.
The latest figures appear to indicate an increase of entrepreneurialism in the UK which has coincided with the coronavirus pandemic’s impact on society. More than 200,000 new businesses have been created in each of the past three quarters.
Commenting on the study, Ember co-founder Daniel Hogan said: “It’s great to see so much new business activity in the UK. The pandemic has changed the way a lot of people think about their lives and their work, and it looks like more people than ever are taking the opportunity to go into business.”