Rise of the UK start-ups: eBay reports 335% increase in new businesses
New data from eBay UK reveals June saw the biggest year-on-year spike in new businesses joining the platform, up 335%, as the trend of setting up a lockdown start-up became more mainstream.
The number of new start-ups joining eBay UK grew consistently each month during lockdown, with the number of new businesses joining the platform in June almost 40% greater than in April when the impact of lockdown was first felt.
Despite the recent easing of lockdown in the UK, the data highlights a new trend – “the rise of the lockdown start-up” – with many Brits using the increase in downtime and being furloughed from their usual employment to create new business ventures or to turn their side hustles into full-time jobs.
Over the course of lockdown, eBay UK experienced a 256% rise in the number of new eBay start-ups compared with the same period last year. June saw the biggest year-on-year spike in new businesses joining eBay UK during lockdown, up 335% compared with June 2019.
Photo: Elaine Smith/ Flickr