A new report from Your Ecommerce Accountant showed that 2020 was a huge year for new ecommerce business registrations in the UK.
The data shows new ecommerce businesses registered on Companies House every year since 2017.
Whilst growth has been exponential over this period, 2020 saw the biggest increase yet, with 35,589 new ecommerce businesses registered throughout the year, a jump of 43% on the previous year.
This means that the cumulative total of ecommerce business in the UK stood at 82,727 as per 31st January 2020.
There are many potential reasons for the increase in new ecommerce business registrations in the UK such as:
- Employees furloughed/made redundant starting a new venture
- The government shutdown forcing shopping habits online
- Low cost of starting an ecommerce business
- Prevalence of online training/mentoring opportunities for vital ecommerce skills
- Emergence of easy-to-setup ecommerce software such as website builders, cloud accounting software, graphic design software etc.
You can see the full report here.