By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Start Your Business Magazine
  • Store
    Merchandise
    Subscribe
  • Features

    Grow, expand and leverage your business..

    Grow your start up business with our experts and industry insiders…

    Get Started

    Quick Links

    • Agenda
    • Business Books
    • Marketing
    • Technology
    • Wellbeing
    • Finance
    Reading: UK Millennials…

    Our Newsletters

    Our website stores cookies on your computer. They allow us to remember you and help personalise your experience with our site..

    Read our privacy policy for more information.
  • Book
  • Trending
    Technology

    How to make your online presence more sustainable

    With the threat of climate change growing larger each day, individuals and…

    Uncategorized

    Promotional Products That Boost Visibility and Loyalty

    In a world filled with digital noise, tangible, branded merchandise stands out…

    blog

    Scam Report: The Latest Trends in SMS Cyber Attacks

    Brands Most Frequently Imitated  by Scammers Many SMS scams impersonate businesses to…

  • Topics

    Topics

    • Agenda
    • Blogs
    • Book Review
    • Business Advice
    • eCommerce
    • SME Update
    Reading: UK Millennials…
    • Events
    • Business Experts
    • Featured
    • Franchise
    • Growing Business
    • Health
    Reading: UK Millennials…
    • Finance
    • Franchise Experts
    • How To
    • Interviews
    • Just for fun
    Reading: UK Millennials…
    • Lifestyle
    • Making money
    • Manufacturing
    • Marketing
    • Money
    • Property
    Reading: UK Millennials…
    • Starting Up
    • Taxation
    • Technology
    • Wellbeing
    • Women in Business
    Reading: UK Millennials…
Reading: UK Millennials…
Connect
Start Your Business MagazineStart Your Business Magazine
Aa
  • Magazine
  • SEO – Backlinks
  • Book: Start Your Business
Search
  • Agenda
  • Book Review
  • Blogs
  • Finance
  • Growing Business
  • How To
  • Interviews
  • Marketing
  • SME Update
  • Starting Up
  • Technology
  • Wellness
  • Contact
Have an existing account? Sign In
Follow US
  • RSS
  • Terms And Conditions
  • Privacy Policy
  • Contact
  • Licensing
  • SEO
Copyright © 2014-2023 Ruby Theme Ltd. All Rights Reserved.

UK Millennials…

Start Your Business
agenda
Share
5 Min Read

Millennials are the UK’s leading entrepreneurs, setting up 50% of new businesses in past 11 months 

  • Generation X has set up a third of new businesses 
  • Ilford ranks as most entrepreneurial area of the UK, with highest proportion of new businesses to population 
  • E-commerce is the most popular type of new business 

New research has revealed that half of the UK’s newest entrepreneurs are Millennials.

The study found that people between the ages of 25 and 40 have set up 49% of new businesses in the country since July 2020.

Contents
Millennials are the UK’s leading entrepreneurs, setting up 50% of new businesses in past 11 months New research has revealed that half of the UK’s newest entrepreneurs are Millennials.The UK’s most entrepreneurial areas, according to Ember Top ten most common names for new business starters, according to Ember 

That is the largest proportion in the UK, ahead of those in Generation X – currently aged between 41 and 56 – which accounts for 33% of the UK’s newest entrepreneurs.

Baby Boomers – aged between 57 and 75 years old – have set up 9.6% of new businesses, while 16-24 year-olds, AKA Generation Z , are responsible for 7.8% of new companies.

The study was conducted by cloud accounting company Ember, which analysed more than 400,000 records from Companies House over the past 11 months to discover the common traits among the UK’s latest business owners.

In total, more than 227,000 businesses were set up by Millennials, and with approximately 14.2 million people in the UK born between 1981 and 1996, that means that 1.6% of Millennials have started a business in the past 11 months – the highest percentage in the UK. For Gen X, 1.09% of the 14 million people born between 1965 and 1980 have started a business.

In addition, the data reveals that a higher proportion of Gen Z have set up a business than Baby Boomers. There are seven million members of Gen Z who are at least 16 years-old – the minimum age to register a company – which means that 0.51% have set up a business, compared to 0.33% of 13.5 million Boomers.

Ilford had the highest number of new businesses compared to its population, followed by Manchester in second, and Dagenham in third.

Romford is in fourth, Hayes is fifth and Southall six, meaning five of the six most entrepreneurial places in the UK are London boroughs. However overall the capital ranks 25th on the list for ratio of new businesses to population.

The UK’s most entrepreneurial areas, according to Ember 

Area

Ratio of new businesses to population

1 

Ilford

1.5663%

2 

Manchester

1.4043%

3 

Dagenham

1.2942%

4 

Romford

1.2877%

5 

Hayes

1.2446%

6 

Southall

1.1982%

7 

Slough

1.1843%

8 

Aylesbury

1.1525%

9 

Watford

1.0851%

10 

Reading

1.0459%

The most popular type of business created in the past year has been e-commerce, with the study finding more than 26,000 new companies registered as “Retail sale via mail order houses or via Internet”.

The second most popular type of new business is defined as “Management consultancy activities other than financial management”, which saw more than 14,000 new providers.

The third most common type of new business was “Other service activities n.e.c.”, which can include everything from pet sitting services and pavement artist, to tattooist and genealogist.

Commenting on the study, Ember co-founder Daniel Hogan said: “It’s fascinating to see the trends and themes that emerge when we look at the UK’s newest entrepreneurs. The country has had to adapt to massive changes over the past year, so despite the uncertainty it’s inspiring to see so many people taking the initiative to set up their own business.”

The study also investigated more details of the UK’s newest entrepreneurs, and discovered that the largest number of new businesses were registered by someone with the first name David, followed by people named Michael, and then by people named James.

The most common traditionally female name for a new business owner was Sarah, with Emma in second and Rebecca in third.

Of the 100 most common names for new business starters, 74 were typically male names, while 19 were traditionally women’s names.

Top ten most common names for new business starters, according to Ember 

Women’s names

Men’s names

1 

Sarah

David

2 

Emma

Michael

3 

Rebecca

James

4 

Laura

Andrew

5 

Nicola

Paul

6 

Claire

Daniel

7 

Victoria

Mark

8 

Charlotte

Christopher

9 

Lisa

John

10 

Rachel

Muhammad

TAGGED: header

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Start Your Business June 14, 2021
Share this Article
Twitter LinkedIn Reddit Email Copy Link
  • RSS
  • Terms And Conditions
  • Privacy Policy
  • Contact
  • Licensing
  • SEO

Get the latest from us delivered straight to your inbox

Start Your Business Magazine: The Ultimate Business Start Up Guide provides information advice and guidance for entrepreneurs and new business start ups. Get the latest from us delivered directly to your inbox.

Our website stores cookies on your computer. They allow us to remember you and help personalize your experience with our site..

Read our privacy policy for more information.

Copyright 2023 Gambit Interactive Media Limited – All Rights Reserved.

Manage Cookie Consent
We use technologies like cookies to store and/or access device information. Cookies are used for ads personalisation We do this to improve browsing experience as well as show personalized ads. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
View preferences
{title} {title} {title}
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?