Business News

New businesses during lockdown

Happy couple having a business meeting with a financial advisor. They are looking at a laptop computer or digital tablet. They are an ethnic couple. They are happy and smiling.

Who would set-up a business during a global pandemic?

It seems like quite a few. New research shows 2,000,000 people have set-up a ‘side hustle’ since the first lockdown, with huge numbers of new entrepreneurs launching from their living rooms or even their bedrooms.

In fact, the UK’s entrepreneurial spirit is booming, with more new companies launching in the first quarter of 2021 than in the same period in 2020.

If you have set-up a new business since April last year, we’d like to hear from you for a story in next week’s edition of the Love Andover Observer.

Please email us here and tell us about your business.

Andy Fishburn from Virgin StartUp says, “A fifth of business founders launched from their living rooms and one in seven from their bedrooms”.

The UK’s entrepreneurial spirit is stronger than ever as the latest lockdown inspired a 19% increase in companies created, compared with the same period in 2020.

And according to a new study, approximately two million people have started a side project during the lockdowns.

The findings from Virgin StartUp, Virgin’s not-for-profit entrepreneurial hub show one in five (20%) founded their business from their living room, with a further one in seven (14%) setting up from their bedroom.

Another one in three (33%) Brits dream of becoming an entrepreneur and would like to set up their own business.

About the author

David Harber

David Harber is the founder and Managing Director of Love Andover, including the Love Andover Observer newspaper and 95.9FM Andover Radio. He is a fellow at the Royal Society of Arts and a card carrying member of the Nation Union of Journalists.