Half of the UK’s latest enterprise homeowners are millennials
The statistics are based on the ratio of start-ups to the population
Almost half (49 percent) of the start-ups since July 2020 are between 25 and 40 years old.
More than 227,000 businesses were started in the past 11 months by millennials of 14.2 million (1.6 percent) of the people in this age group.
Generation X (between the ages of 41 and 56) has now founded a third of the new companies. Baby boomers – currently between 57 and 75 years old – founded 9.6 percent of the companies and Generation Z, 16-24 year olds, founded 7.8 percent of the startups.
The numbers come from a study by cloud accounting firm Ember that analyzed 400,000 records from Companies House.
Ilford is the UK’s most entrepreneurial district, followed by Manchester and Dagenham. Romford is fourth, Hayes is fifth and Southall is sixth. This means that five of the six most entrepreneurial places in the UK are London boroughs. However, the capital is on the list for the ratio of start-ups to the population at 25.
| Area | Relationship of the start-ups to the population |
|---|---|
| Ilford | 1.5663% |
| Manchester | 1.4043% |
| Dagenham | 1.2942% |
| Romford | 1.2877% |
| Hayes | 1.2446% |
| Südall | 1,1982% |
| swamp | 1.1843% |
| Aylesbury | 1.1525% |
| Watford | 1,0851% |
| read | 1,0459% |
> See also: 5 of the coolest coworking spaces in Manchester
The most popular type of new business is e-commerce. More than 26,000 new companies have registered as “retail through mail order houses or via the Internet”. The second most popular type of new business is defined as “business consultancy other than financial management” with more than 14,000 new entrants.
Third was “other service activities, nec,” which can encompass a wide range of businesses – from animal care services and street performers to tattooists and genealogists.
David is the most common name of new male entrepreneurs while Sarah is the most common name of new female entrepreneurs.
| rank | Women’s names | Man names |
|---|---|---|
| 1 | Sarah | David |
| 2 | Emma | Michael |
| 3 | Rebecca | James |
| 4th | Laura | Andreas |
| 5 | Nicola | Paul |
| 6th | Claire | Daniel |
| 7th | Victoria | Mark |
| 8th | Charlotte | Christopher |
| 9 | Lisa | John |
| 10 | Rachel | Muhammad |
Commenting on the study, Ember co-founder Daniel Hogan said, “It’s fascinating to see the trends and themes that emerge when we look at the UK’s newest entrepreneurs. The country has had to adjust to massive changes in the last year, so despite the uncertainty it is inspiring to see so many people taking the initiative to start their own business. “
Continue reading
Five successful business ideas for 2021
