AskTraders analysed companies house data over a three-year period after the referendum was announced in 2016 and compared to the same time period prior to this to discover if Brexit was good for business?
More than 150,000 more businesses were registered after the referendum was announced on the 23 June 2016 with a total of 198,786. This is compared to the same time period (3-years and 2 months) before the announcement where just 46,794 businesses were registered.
Where in the UK is the best place to start a Brexit business according to company’s house data? This would be the capital, as it is home to some of the UK’s largest businesses it’s no surprise startups flock to the big smoke with 46,624 businesses started since the referendum was announced.
This was followed by Birmingham (3938), Manchester (3709) and Bristol (2558). The top 25 best places to start a business-post Brexit can be seen below.
Image 1. Shows the top 25 best places to start a business-post the Brexit referendum being announced.
Steve Miley, senior market analyst at www.asktraders.com said, “What we are seeing here is a significant increase in companies, most likely from Europe, setting up in the UK. In other words, European firms looking to get a foothold in the UK prior to the UK leaving the EU.
“With so many uncertainties surrounding Brexit, the possible terms of Brexit and how business will be conducted between the UK and the EU after Brexit, setting up a company in the UK could be one way to reduce uncertainties.”