{"id":19684,"date":"2022-08-11T13:37:36","date_gmt":"2022-08-11T13:37:36","guid":{"rendered":"https:\/\/www.moorethompson.co.uk\/blogs\/?p=19684"},"modified":"2022-08-11T13:37:38","modified_gmt":"2022-08-11T13:37:38","slug":"firms-founded-during-the-pandemic-could-add-20-billion-to-economy","status":"publish","type":"post","link":"https:\/\/www.moorethompson.co.uk\/blogs\/firms-founded-during-the-pandemic-could-add-20-billion-to-economy\/","title":{"rendered":"Firms founded during the pandemic could add \u00a320 billion to economy"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/08\/M.T.-Blog-Graphic-01.08.2022-1-3-1024x576.png\" alt=\"\" class=\"wp-image-19685\" srcset=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/08\/M.T.-Blog-Graphic-01.08.2022-1-3-1024x576.png 1024w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/08\/M.T.-Blog-Graphic-01.08.2022-1-3-300x169.png 300w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/08\/M.T.-Blog-Graphic-01.08.2022-1-3-768x432.png 768w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/08\/M.T.-Blog-Graphic-01.08.2022-1-3.png 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>British businesses formed during the pandemic could be a significant driving force for the UK economy.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Around 800,000 companies were formed during the first year of the pandemic, which was up by nearly a quarter, at 22 per cent, on the previous pandemic-free year.<\/p>\n\n\n\n<p><strong>More adopt the latest technology<\/strong><\/p>\n\n\n\n<p>Now data from a joint report by CBI Economics and the NatWest Group, shows that businesses born during the pandemic could add a whopping \u00a320.4 billion to the UK economy.<\/p>\n\n\n\n<p>Before the pandemic struck, the number of new businesses eclipsed other economies, up eight per cent on the US and 11 per cent on Germany, with the survival rate in 2019 up at 89 per cent, nine points higher than the EU average.<\/p>\n\n\n\n<p>The survey found that these new enterprises were more likely to adopt the newest technologies compared to their pre-pandemic counterparts (56 per cent versus 71 per cent). In addition, these new businesses are 20 per cent more likely to use both sustainable materials and suppliers.<\/p>\n\n\n\n<p>The survey of 543 firms also found:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>When starting their business only 13 per cent named regulation and red tape a challenge.<\/li><li>Access to finance was a key concern for many, with 55 per cent saying access to finance was a concern, compared with 42 per cent before the pandemic.<\/li><li>80 per cent, or four out of five firms, report no plans to wind down their business.<\/li><\/ul>\n\n\n\n<p>Tony Danker, CBI Director-General, said: \u201cPandemic-born businesses &#8211; led by ambitious, resilient entrepreneurs &#8211; have innovated in so many ways, and at such speed, giving me great sense of optimism. It\u2019s crucial we give these leaders the support they need to grow and succeed.<\/p>\n\n\n\n<p>\u201cRising energy prices, supply chain challenges, an uncertain economic outlook and cost-of-living crisis mean we\u2019ve some testing months, and possibly years, ahead.<\/p>\n\n\n\n<p>\u201cFor start-ups which count their experience in months, not years, that environment is even tougher. That said, even if the cost of doing business is rising, the cost of starting a business shouldn\u2019t. The UK needs the ideas and ingenuity of entrepreneurs to help us grow.\u201d<\/p>\n\n\n\n<p><strong>For help and advice on related matters, please call us today.<br><br><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>British businesses formed during the pandemic could be a significant driving force for the UK economy.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26,33,6,27,28,29],"tags":[],"class_list":["post-19684","post","type-post","status-publish","format-standard","hentry","category-blog","category-business-blog","category-economy","category-sme","category-smes","category-smes-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Firms founded during the pandemic could add \u00a320 billion to economy - Moore Thompson<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.moorethompson.co.uk\/blogs\/firms-founded-during-the-pandemic-could-add-20-billion-to-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Firms founded during the pandemic could add \u00a320 billion to economy\" \/>\n<meta property=\"og:description\" content=\"British businesses formed during the pandemic could be a significant driving force for the UK economy.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.moorethompson.co.uk\/blogs\/firms-founded-during-the-pandemic-could-add-20-billion-to-economy\/\" \/>\n<meta property=\"og:site_name\" content=\"Moore Thompson\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-11T13:37:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-11T13:37:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/08\/M.T.-Blog-Graphic-01.08.2022-1-4.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Firms founded during the pandemic could add \u00a320 billion to economy\" \/>\n<meta name=\"twitter:description\" content=\"British businesses formed during the pandemic could be a significant driving force for the UK economy.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/08\/M.T.-Blog-Graphic-01.08.2022-1-4.png\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.moorethompson.co.uk\/blogs\/firms-founded-during-the-pandemic-could-add-20-billion-to-economy\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.moorethompson.co.uk\/blogs\/firms-founded-during-the-pandemic-could-add-20-billion-to-economy\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/www.moorethompson.co.uk\/blogs\/#\/schema\/person\/0d9cc808e7eb5eb75ce773e69c3d97fb\"},\"headline\":\"Firms founded during the pandemic could add \u00a320 billion to economy\",\"datePublished\":\"2022-08-11T13:37:36+00:00\",\"dateModified\":\"2022-08-11T13:37:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.moorethompson.co.uk\/blogs\/firms-founded-during-the-pandemic-could-add-20-billion-to-economy\/\"},\"wordCount\":356,\"image\":{\"@id\":\"https:\/\/www.moorethompson.co.uk\/blogs\/firms-founded-during-the-pandemic-could-add-20-billion-to-economy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/08\/M.T.-Blog-Graphic-01.08.2022-1-3-1024x576.png\",\"articleSection\":[\"Blog\",\"Business Blog\",\"Economy\",\"SME\",\"SMEs\",\"SMEs \/ Business\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.moorethompson.co.uk\/blogs\/firms-founded-during-the-pandemic-could-add-20-billion-to-economy\/\",\"url\":\"https:\/\/www.moorethompson.co.uk\/blogs\/firms-founded-during-the-pandemic-could-add-20-billion-to-economy\/\",\"name\":\"Firms founded during the pandemic could add \u00a320 billion to economy - 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