The pandemic has been a challenge for many firms - but an increasing opportunity too with the number of new businesses rocketing during 2020.

According to research from accountants and business advisors Kreston Reeves, which has offices in Chatham, Canterbury and Sandwich, there were 32% more businesses registered during 2020 than 2019.

It is drawn from analysis of corporate databases that draw on information provided by Companies House in 2019 and 2020.

In Kent, 24,951 new businesses were incorporated, an increase of 32% on 2019 when just 18,826 new businesses were registered.

Across the UK, 772,002 new businesses were born in 2020, an increase of 14%.

Mark Attwood, partner and member of the growth advisory team at Kreston Reeves, said: “Times of crisis are often a source of inspiration for entrepreneurs as they look to capture an opportunity, and that is true of 2020.

"The South East has seen a wave of Covid entrepreneurs, far outstripping business start-ups across the rest of the UK.

“It should, of course, be noted that many of these new incorporations will be subsidiaries of existing businesses looking to expand their offerings, but we believe that the majority of them will be new businesses where the individual has taken time in 2020 to think about the direction they want to head.

"Some will remain small, operating from home, but others will grow and help build our post-Covid economy.

“Government support has focused to date on supporting existing businesses that have been impacted by the global pandemic, and that is as it should be. But government should also look to measures to support this new wave of entrepreneurialism to help them grow and become the engines of tomorrow’s economy.”

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