News Item: Construction Industry Has Most New Business Start-ups in the UK
Research has been carried out with Local Authorities all over the United Kingdom and data has revealed the construction industry has over 245,000 companies operating. This makes it the most active industry sector for start-ups and new businesses in the UK.
The retail sector follows closely behind with 239,545 active start-ups, and in third are head office and management consultancy businesses, with approximately 214,305 active start-ups.
However, research has shown that 'specialised construction' is the most popular and entrepreneurial new start-up area.
The top 10 industry areas for most new start-ups is illustrated below:
This information is provided by business telecommunications experts CircleLoop and Co-Founder Damian Hanson states: "After the year we've all had, it's possible that our macroeconomic climate has driven more people to create either a new business to replace a lost job or even a 'side hustle' business to compensate for the loss of income in 2020 due to COVID-19.
"Starting your own business is a huge challenge, and the first few years can be gruelling. In fact, it's not unusual to see new business enterprises fail within the first year. However, with the right idea and plenty of resilience and perseverance, a startup might just be successful."
Source: The Startup Index by CircleLoop