The latest research indicates that 2020 saw a huge spike in the number of small businesses that were launched, setting a new record for a single year.

This research was carried out by NatWest’s payment partner Tyl, and it shows that a total of 770,000 new small businesses were started up over the course of 2020. This represents an all-time record for the UK and start-up growth of 30% in comparison with the year before. Almost every month of last year saw the launch of 50,000 small businesses, with April being the sole exception.

Businesses based around mail orders or operating entirely through the internet were by far the most popular types set up last year, with 305,608 of those companies launched in 2020 – while 2019 saw just 13,615 started.

This is unsurprising, given the pandemic and lockdowns, and it clearly indicates that these were major factors behind the start-up spike last year. Many lost their jobs, and turning to running their own small firms appears to have been a popular alternative. Such people can benefit from the advice of accountants in Goole or wherever they live when getting used to keeping business accounts.

Speaking to Small Business, Tyl CEO Mike Elliff said:

“Despite the many challenges faced by businesses, communities, and the world at large, the resilience and resourcefulness of Britain’s entrepreneurs is one of the great untold stories of last year.”

Elliff then added that these people deserved praise for finding a way out of the problems that COVID-19 had created for them.