New research shows
Analysing the start-up industry in Europe, card processing specialists, Paymentsense, have conducted research to find reveal the countries seeing significant growth in start-ups between 2013 -2017.
Paymentsense have analysed 30 European countries and ranked each one based on how many new businesses have been registered in a 5-year period. The business types which have been the most popular in these countries are also detailed.
Turkey tops the list with the most start-ups registered, followed by France and then the United Kingdom. However, data reveals that the UK is the fastest growing start-up nation in Europe and has brought more than a few successful companies to Europe, including Transferwise and Deliveroo.
| Rank | Country | Strongest start-up industry | No. of start-ups in this industry reg in 2017 | No. of overall businesses 2013-17 | % growth |
|---|---|---|---|---|---|
| 1 | Turkey | Wholesale & Retail | 724,306 | 2,118,500 | -1.44% |
| 2 | France | Automobile sales | 358,879 | 2,050,312 | -1.54% |
| 3 | United Kingdom | Professional, scientific and tech activities | 392,627 | 1,860,724 | 5.09% |
| 4 | Italy | Food Wholesale | 393,629 | 1,610,660 | -0.25% |
| 5 | Spain | Wholesale and retail | 400,178 | 1,587,936 | 0.07% |
| 6 | Poland | Wholesale and retail | 367,666 | 1,263,723 | 0.70% |
| 7 | Germany | Machinery Wholesale | 207,980 | 1,244,417 | -3.53% |
| 8 | Portugal | Travel agencies | 208,483 | 786,393 | 3.37% |
| 9 | Netherlands | Solicitors | 176,974 | 757,747 | 0.20% |
| 10 | Romania | Wholesale and retail | 158,590 | 499,419 | 3.87% |
Amongst the European countries, the UK has seen the biggest growth in the number of start-ups between 2013 and 2017 at 5.09%, followed by Romania and Portugal. The research suggests the common factor amongst these countries is a business-friendly environment that gives founders the possibility to grow and nurture their company over time.
When looking at what type of start-ups have dominated Europe in the last few years, wholesale and retail have the largest presence with 3.7 million new businesses started up.
This is surprising to see when in recent years we have seen a retail crash with companies like Woolworths and ToysRUs go bust.
Guy Moreve, Chief Marketing Officer at Paymentsense, says:
“It’s interesting to see that the UK ranks among the top five countries with the highest numbers of registered new businesses. It shows that the country offers a great setting for those interested in founding their own company.
Further afield, it’s fascinating to see how Europe has changed in recent times. A number of countries are now placing more emphasis on technology which has helped create a ‘golden era’ for tech startups.
“In order to thrive a business in your respective country, make sure you analyse the market you’re addressing – what works best and what doesn’t; It’s also worth looking at the legal and environmental conditions in order to make sure your business idea is a success”.
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