Business Planning

Thinking of starting a business? Today’s the day

Fred Heritage | 5 May 2016 | 8 years ago

5 May
5 May marks the most popular day of the year to start a business
Today 5 May is the most popular day of the year to start a business in the UK, new research has revealed.

A total of 3, 568 businesses were started in Britain on 5 May in 2015, representing the highest number of incorporations ever recorded and making the day more popular than any other for small business owners starting out.

A study conducted by O2 Business on Companies House data also showed that 2015 was a record year for new businesses, with 608, 110 incorporations started in total the equivalent of more than one business being set up for every minute of the year.

Britain’s renewed hunger for entrepreneurialism was revealed by the research, as more and more people proved willing to take the risk and start their own venture. Young people were shown to be the demographic increasingly attracted to entrepreneurship as a career choice, with six out of ten under-25’s expressing a desire to start a business.

Business confidence in the UK is expected to continue to drive startup success throughout 2016. Small and medium business general manager at O2 Business, Paul Lawton, said: 2015 was a record breaking year for startups. it’s fantastic to see so much entrepreneurial spirit throughout the UK.

Commenting on the announcement, Tangle Teezer founder Shaun Pulfrey offered up his advice for any would-be entrepreneurs looking to start a business on 5 May. As an entrepreneur you have so much to consider and new skills to learn before you can get your business off the ground, so the importance of flexibility shouldnt be underestimated, he said.

it’s essential in order to cope with the ups and downs of doing business. I spent three years researching before Tangle Teezer really began, in true entrepreneurial style. You have to be prepared, added Pulfrey.

In broader industry terms, business administration and support services experienced the highest business birth rate at 20.7 per cent, whilst accommodation and food services were the sectors to experience the highest business death rate, at 13.1 per cent.

Yet to decide who to vote for in today’s London mayoral election? Read our helpful guide of the candidates.

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