More than half a million new businesses have registered at Companies House so far this year, despite registration fees increasing threefold, new figures show.
The latest figures show 645,993 businesses were registered, slightly higher than the same time in 2023.
On May 1, the Government raised fees to those who register a new company. Registering online now costs £50 compared to the previous cost of £12. This rises to £71 for those that apply by post –and companies are obliged to apply by post if they don’t want to use limited in the name.
The Enterprise Nation Startup Tracker dynamically tracks new companies.
The surge in start-ups reflects an ongoing trend. 859,007 companies were registered in 2023, 784,762 in 2022, which was again 30,000 more than in 2021. In 2019 670,575 businesses were registered.
We know from our own research that more than a third of all UK adults were thinking about starting a business at some point this year, so it’s fantastic to see how that is literally taking shape today.
Increasing the fees was expected to slow down the number of people starting up – but that does not seem to have had an impact on people’s ambitions.
What those individuals need to do now is to get the right kind of support to help them efficiently achieve what they set out to do and build their business idea into a trading reality.
Our epic Start Up Show returns on January 25 next year, in partnership with global digital marketing platform Constant Contact.
The Enterprise Nation Start Up Show was first launched in 2015 to support the growing number of entrepreneurs starting businesses in the UK, sharing the fascinating journeys to success from the UK’s most inspiring start-ups.
It will hear from a host of visionary start-ups like Mark Rushmore and Gyve Safavi, co-founders of sustainable electric toothbrush brand Suri who are busy disrupting the global dental market and Sandwich Sandwich co-founder Josh Kleiner, who will talk about how the firm’s bread obsession has impacted the UK’s lunch scene.
In tandem with the show and build out its legacy, StartUp UK, a programme developed by Enterprise Nation and Monzo Business is helping thousands of start-ups develop key business skills in their own time, online. Just looking at some of the businesses that have been using this digital support and you can see how the appetite to become your own boss keeps on growing.
Sophie Seddon founder of Sophie Seddon PR, based in Holmfirth, West Yorkshire, used the resources from StartUp UK to help her increase her business skills, which in turn helped her overcome self-doubt – and go one step further to embrace a growth mindset.
Sophie said: “The most impactful advice I’ve had is to embrace a growth mindset and be adaptable in the face of challenges. Through StartUp UK’s mentorship and guidance, I’ve learned that I need to be continuously learning, and able to pivot strategies when necessary.”
Sophie’s one-woman venture offers PR, communications and copywriting expertise.
“I’ve learned the importance of helping other businesses adopt a growth-orientated mindset and understand that promoting their business – even if it feels uncomfortable – is crucial to succeeding in a competitive market. That has become my mission.”
She added: “My one piece of advice would be don’t listen to that niggling voice of self-doubt, and start sooner! Don’t be afraid to ask for help when you need it. Embrace courage, take risks and recognise that learning is a crucial part of the process.”
