Royal Mail: London emerges as UK new business hotspot

By Georgia Wilson
In a study commissioned by Royal Mail, London has emerged as a hotspot for new UK businesses during COVID-19...

Recent findings commissioned by Royal Mail have discovered that the highest rate of new businesses created during the first lockdown took place in London.

When looking at both the raw number of new businesses set up during the first lockdown and new businesses per head of the population, eight out of 10 postcodes with the highest number of businesses came from the Greater London area.

However these figures are less London-centric when comparing year on year the percentage change in the number of new businesses with eight of the top 10 highest figures being outside of London.

Those that experienced market growth when it comes to the creation of new businesses included Worcester, Leicester and Manchester. 

In addition, Royal Mail revealed that when looking at March to July 2020, 315,000 companies were incorporated - a 7 per cent increase compared to 2019. In addition there has also been an increase in new ecommerce businesses due to UK entrepreneurs capitalising on the shift to online shopping - almost 16,000 businesses were created between March and July 2020 that fell into this category.

“We have seen an increase in new business creation despite the challenges of lockdown. It is encouraging to see that new business creation is taking place in both urban and rural areas. We are proud to offer the Universal Service which ensures that all areas of the UK get the same service for the same one-price-goes-anywhere,” commented Nick Landon, Chief Commercial Officer at Royal Mail.

“The ecommerce sector has experienced a real boom and at Royal Mail we understand the importance of the postal service in keeping the UK connected at this time. In doing so, we also take the health and safety of our colleagues, our customers and the local communities in which we operate very seriously,” he added.

For more information on business topics in Europe, Middle East and Africa please take a look at the latest edition of Business Chief EMEA.

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