2020 was a year a lot of us would rather forget, with its rising house prices, mass unemployment, and the all-round unknowingness faced by all of us. But it wasn’t all doom and gloom. instantprint, the business cards specialists found that nearly half a million new businesses were registered in 2020, despite the economic uncertainty.
One of the sectors that saw a boom was domestic construction with over seven thousand new businesses registered within the sector.
What caused the domestic construction sector to grow?
Domestic construction refers to the industry that is responsible for building residential properties that only have one family living there. It refers to a place of permanent or semi-permanent habitation.
At the start of 2020 the housing market bubble looked set to burst but during the pandemic as many people realised their homes weren’t fit for purpose. British people are interested in buying bigger houses with gardens and nearby parks after the coronavirus pandemic, according to one of the country’s biggest housebuilders.
And it’s not only homeowners seeking greener pastures, home offices and gyms are high on the home-owner must-have list. As more people than ever worked from home during the pandemic, both employees and employers realised the benefits that flexible working afforded.
As for those living in inner-cities, they started looking at new build satellite sites that led to an uptick in sales, whilst those who were content with their location sought the help of contractors to transform their home into a space that was fit for work, play, and just general living!
Other sectors seeing growth
Despite high street stores being in decline over the last decade and non-essential shops closing their doors for nearly a whole year, the retail sector saw the most start-ups with a whopping 22,011. Covid-19 transformed our shopping habits, with more people than ever shopping online and in bulk.
Other sectors that saw an increase in new businesses were management consultancy (16,869), the buying and selling of real estate (16,747), and freight transport via road (10.848).
When did people turn to start-ups?
Last summer was one of the hottest on record and it seems the sunshine buoyed our confidence, along with lockdown restrictions easing. June was the peak month for new business registrations, with 52,281 registrations during that month alone.
The highest number of registrations happened on 8th June, with 4,759 made in a single day, and it appears Tuesday was the most popular day on which to register a business in 2020, whilst Saturdays were the least busy day for new resignations.
Where is the capital of start-ups?
Despite the mass exodus of professionals and families leaving the capital for greener-scapes, the capital still hasn’t lost it’s shine for new business owners. Over a quarter of all businesses set up in 2020 were registered in London (123,462), followed by Birmingham (11,185) and Manchester (9,684).