Although a number of businesses and industries have suffered during the pandemic, a report from Royal Mail suggests that there has been a 7% increase in new start-up businesses during the lockdown.
From April to June this year, there has been a record breaking number of start-ups recorded at Companies House and research shows that there were 315,000 company start-ups between March and July.
It is suggested that the increase is as a result of a high demand for e-commerce businesses due to the pandemic with consumers relying on technology for day to day activities.
With many businesses being quick to adapt to restrictions, other entrepreneurs have also reacted by creating new business models that cater to the demand of the pandemic.
The boom of new businesses has predominantly been as a result of e-commerce demand and reflects the changing patterns of consumer behaviour which has largely been affected by lockdown measures.
The chief commercial office of Royal Mail, Nick Landon, believes "it is very promising to see this level of new business creation. The narrative for businesses during and post lockdown is not one purely of survival, but also of resilience, resurgence, and growth."
Aside from e-commerce businesses, there has also been surge in other company start-ups during lockdown including businesses in the services sector and property sector.
Statistics for the second lockdown are yet to be seen and with more and more businesses being affected by the pandemic, it is more important than ever for businesses to build resilience and diversify.
If you require any assistance or advice with a new start-up business, or you have plans to create a new business plan for your business, please contact a member of our corporate team who will be able to assist.
a report from Royal Mail suggests there was a 7% increase in new companies launched during the lockdown