Seven new businesses created every day in Doncaster
More than 1,220 businesses were created in Doncaster in the first half of 2021, according to research by iwoca - one of Europe’s largest small business lenders.
Analysis of Companies House data reveals that almost seven new businesses were registered in Doncaster every day.
The total number of new firms increased by 38 per cent compared to the same period in 2019 when 888 businesses were registered.
iwoca’s Small Business HotSpots UK 2021 shows that across Yorkshire and the Humber, Doncaster saw the sixth highest number of new businesses out of all local authorities in Yorkshire and the Humber. Leeds saw the highest total number of new firms registered out of all local authorities.
This sharp increase in the number of business registrations points to a rise in entrepreneurship as people reassess their work priorities. The number of people on furlough in Doncaster dropped by 61 per cent over the first half of 2021. Whilst many will have returned to their old jobs, the Companies House data suggests that a significant number have decided to start their own business.
Christoph Rieche, iwoc a CEO and co-founder, said: “It is fantastic to see the creation of so many businesses during the first half of this year, they are testament to the entrepreneurial spirit which characterises our vibrant economy. Many of these businesses will be unnecessarily constrained by cashflow. At iwoca we turn cashflow into a superpower enabling them to grow faster and worry less. We look forward to working with many of them.”