The number of businesses launched in Britain this year is nearly 20% higher than in 2010, according to new analysis from Creditsafe.
The study found that 471,000 companies were established in 2011 compared to 400,000 in 2010.
Over one in three of these new businesses have been launched in London, making it the hub of the start-up community in Britain.
In terms of the highest number of start-ups outside of the capital, Birmingham remains the UK’s second city, followed by Manchester and Guildford.
The study´s authors noted that around 16,000 of these businesses will go bust by the end of the year. However, those behind the study were optimistic about the results.
David Knowles, business development director at Creditsafe, said: ”This year has been difficult but the entrepreneurial spirit of the Great British public is alive and kicking. While there has been a higher number of business insolvencies this year, the number of new businesses set up over the last two years has grown steadily. Overall growth in the UK business population has also grown steadily.”
This is promising news for new businesses, let’s see what 2012 has in store!