The latest Companies House data analysed by StartUp Britain shows that so far 342,927 companies have been set up across the UK, almost a third of which are in the capital.
This is faster than last year’s business formation rate of 70 per hour, suggesting 2016 will be yet another record year for UK start-ups, exceeding the levels reached in 2015 (608,110 businesses incorporated), 2014 (581,173) and 2013 (526,446).
According to the research, Greater London, Aberdeen, Perth & Kinross, Canterbury, Bristol, Darlington and Cornwall in particular, are all on course to register 10%+ more start-ups this year than last.
Matt Smith, director of StartUp Britain, said: “It is fantastic, and does not surprise me, that the number of new start-ups has continued to rise vigorously.
“Entrepreneurship is a personal endeavour, driven by individuals with a passion for turning a business idea into reality.
“The entrepreneurial spirit is clear as the StartUp Britain Routemaster bus parks in high streets and city squares across the UK.
“There is no better country in which to start a business and that’s as true now as it was a month ago.
“There will always be risks and uncertainties in the world, but as we can see, entrepreneurs keep rising to the challenge.”
StartUp Britain is currently in the middle of a nationwide campaign promoting entrepreneurship in town centres across the UK.
The StartUp Britain tour was launched at Buckingham Palace as guests of the Duke of York on Wednesday 15 June.
Over the next fortnight, it will visit Cardiff, the South-West, Birmingham, Leicester, Milton Keynes and Reading before a final engagement outside London King’s Cross on Friday 29 July.
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