Interest in Business Registration Skyrocketed by 158% Since First COVID-19 Lockdown: Research by Mint Formations

LONDON, March 28, 2022 /PRNewswire/ -- Company Formations experts have seen a drastic increase in the number of people looking to register a new business during the coronavirus pandemic. Comparing data from 2018-2020 and 2020-2022, Mint Formations found the number of people interested in registering a business increased by more than 145,000.

Mint Formations — a UK formations company that specialises in registering companies across the United Kingdom — has seen an increase of 158% in interest from clients wanting to create a new business during the recent pandemic.

The company's director, Rajesh Velayuthasamy, said, "We have been inundated with enquiries for our services at this difficult time. It's clear that people are looking for more stability that they can't find elsewhere.

"Two years on from the first lockdown, working conditions and the employment market have changed significantly in the UK. With thousands of people working from home, furloughed or laid-off, the pandemic gave people the opportunity to embrace their entrepreneurial spirit and start their own businesses.

"For some people, registering a business and becoming self-employed was a chance to follow a long-held dream. For others, they needed to do it to gain income during a very challenging period."

Despite the UK being free from Covid restrictions now, Mint Formations has seen the increased interest continue. With the recent increases in the cost of living and National Insurance payment hikes, Velayuthasamy expects the trend to continue in the coming years.

"We've seen a huge rise in the number of people registering small businesses to supplement their income from employment. With the rising cost of living and petrol prices at the moment, having a side-hustle or secondary income is a great way to boost financial security."

ENDS

For more information, please contact:

Rajesh Velayuthasamy
Director,
Mint Formations
www.mintformations.co.uk
[email protected] 
(+44) 20 7112 8684

SOURCE Mint Formations