Draft:UK Company Formation Sees Unprecedented Growth in 2023
| Submission declined on 13 July 2024 by KylieTastic (talk). This submission reads more like an essay than an encyclopedia article. Submissions should summarise information in secondary, reliable sources and not contain opinions or original research. Please write about the topic from a neutral point of view in an encyclopedic manner.
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| Submission declined on 13 July 2024 by KylieTastic (talk). This submission is not adequately supported by reliable sources. Reliable sources are required so that information can be verified. If you need help with referencing, please see Referencing for beginners and Citing sources. This draft's references do not show that the subject qualifies for a Wikipedia article. In summary, the draft needs multiple published sources that are: Declined by KylieTastic 28 days ago.
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In 2023, the UK saw a record-breaking number of company formations, with 900,006 new businesses registered, a 12% increase from the previous year. This brings the total number of active companies in the UK to 5.31 million, another national record. Online retailers led the way, with 82,000 new businesses registered, followed by property letting and takeaway/street food sectors. The growth in female-founded businesses also continued, with a record 164,000 companies incorporated by women, up 4% from 2022.
Despite the challenging economic conditions, the number of incorporations in the UK is on an upward trend, with a major shift in the way people are thinking about their working lives and new technology encouraging entrepreneurs to bring new business ideas to life. However, the number of company dissolutions also remained high, with 662,915 companies dissolved in 2023, a 35% gap between new incorporations and dissolutions. The article concludes by highlighting the importance of continued support and commitment from the government for startup businesses to succeed, particularly for underrepresented groups.
References
[edit]- ^ "A new year and a new challenge for Companies House – Companies House". 3 January 2024.
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