Further to our post in December drawing attention to investment projects in the Solent region, two independent studies have highlighted Portsmouth as an entrepreneurial hub.
Both Capital on Tap and Instant Offices use Companies House data to gauge the number of newly registered businesses. In the latter’s Entrepreneurial Index, Portsmouth was ranked as the most entrepreneurial city in 2020, ahead of London. It reports a 33% year-on-year increase in entrepreneurial activity.
The effects of the Covid-19 pandemic and lockdown on businesses are well reported. Despite this, the people of Portsmouth have been investing in their hobbies and ideas at an accelerated rate. With SMEs accounting for around half of turnover in the UK private sector, it’s exciting to live and work in such a vibrant and growing part of the country.
“The UK is heavily reliant on SMEs and start-up businesses for income and employment. Their presence will be even more important now we’ve left the EU so it makes sense that there should be more investment in helping start-ups to get up and running in the best possible way from the outset.”