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Enterprise

How Manchester became the 'entrepreneur capital' of 2020

Almost 200,000 companies have been launched since the country went into lockdown back in March - but it's the Northern city that's been named the 海角视频's 'entrepreneur capital'

Manchester's skyline from the pent house suit in West Tower Manchester. Image captured in June 2019(Image: Vincent Cole)

Almost 200,000 companies were launched since the 海角视频 went into lockdown in March - with Manchester revealed as "Britain's entrepreneur capital" during that period.

New research published by O2 shows that between March 24 and the end of June, 190,155 were started up, with Manchester performing the best in terms of population.

Despite much of the country’s industry and services shutting down to prevent the spread of Covid-19, the figures - analysed up to the end of June - suggest that the nation’s entrepreneurial spirit hasn’t been quashed.

That was particularly the case in Manchester, which saw 4,014 new companies launched - one per 143 people. London ranked second, where although 51,937 businesses were incorporated, the population figure was one per 172 people.

An empty Market Street in Manchester city centre during the coronavirus lockdown(Image: ABNM Photography)

Leeds (4,539), Glasgow (2,243) and Bristol (2,076) also saw new companies springing up in their thousands.

According to the O2 study, entrepreneurs have been building in confidence. Only 42,254 companies were formed in April at the height of the pandemic, compared to 58,892 in May.

Last month, the June figure was 77,575, an increase of 84% from just two months prior.

An O2 Business spokesperson said: “This has been an extremely challenging time for businesses across the 海角视频. Companies are faced with the toughest trading conditions they’ve seen in a lifetime.