Many businesses may have gone under during the pandemic, but many more have been created and have zero intention of closing up shop once restrictions are lifted.
This is according to a new report from The Accountancy Partnership, an online accounting service for UK businesses, which states that there were a “record number” of new businesses started in 2020.
These businesses will create thousands of jobs in the coming years, including IT consultancies, in which industry one in four new firms plan to hire at least one person.
The report states that a quarter of new IT consultancies (some 2,200 of them) will be hiring more people in the coming years, expanding employment opportunities for UK workers.
Almost three-quarters (71 percent) of retail entrepreneurs who set up shop during the pandemic want to grow their consultancy’s revenue, with almost half (46 percent) wanting these companies to become their only source of income.
“Small businesses truly are the foundations of the British economy and seeing so many businesses started during lockdown, often out of necessity, with long-term growth and hiring plans is fantastic,” said Lee Murphy, MD at The Accountancy Partnership.
“Almost half of lockdown-preneurs have always wanted to start their own businesses and with so many passionate people behind these ventures I am optimistic that we will see some excellent businesses supporting the wider business economy in the coming years.”
“The opportunities that pandemic-born businesses are set to create in the coming years will be crucial to Covid-recovery. The wave of new IT consultancies is exciting and an influx of jobs will be welcome and needed as restrictions continue to ease.”
