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UK Contractors: More than half a million new businesses set up in 2014

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It seems that 2014 was an exceptional year for those joining the UK’s contractor sector, with a new survey showing that more than half a million firms were set up last year.

Results from national enterprise campaign StartUp Britain, which is run by thank tank Centre for Entrepreneurs, revealed that 581,173 new businesses were registered with Companies House in the UK during 2014.

This shows a significant increase compared to previous years, with 526,447 and 484,224 recorded in 2013 and 2012 respectively.

Although not all company registrations do result in the launch of a new company, these figures do indicate how many people are choosing to join the self-employed route.

With regards to a regional analysis, it will come as no surprise to learn that the country’s capital leads the way for smaller sized business, such as Limited companies; with the number of entrepreneurs registering their new business in London being reported at 184,671.

However, other big cities also showed a high number of business start ups, with 18,337 registering in Birmingham, and 13,054 in Manchester.

Luke Johnson, chairman of The Centre for Entrepreneurs, commented on the findings, “Starting a business is easier, quicker and cheaper than ever thanks to new technology. 

“Entrepreneurs have higher profiles than in the past and are seen as role models. Traditional jobs for life have largely disappeared, as have occupational pensions.”

If you’re interested in making the move from permanent to contracting, why not download our FREE 60 page guide to Contracting through your own Limited company.

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