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Entrepreneurship has seen a notable rise this year, but which industry is the most popular when it comes to starting your own business?
Between January and March 2024, the number of incorporations in the country rose by 22,649 compared with the same period in 2023 – an increase of 10.2% YoY. With that in mind, we teamed up with global workspace provider Instant Offices to investigate which industries are capturing the attention of new business owners, offering insights into the evolving landscape of the UK economy in 2024.
Most Popular Industries in 2024
Ecommerce has emerged as the leading industry for new startups, with an impressive 71,252 new companies established in the UK during the past year. Over a longer five-year trend, ecommerce remains the most popular sector overall, with a total of 142,603 businesses launched and a remarkable growth rate of 92.5%.
Property companies and business consultancy services were also among the top industries in the UK this year, with buying properties to resell and business consulting coming 2nd and 3rd respectively.
| Rank | Top UK Industries June 2023 – June 2024 | Number of Companies Started |
| 1 | Ecommerce | 71,252 |
| 2 | Buying properties to resell | 34,196 |
| 3 | Business consulting | 30,385 |
| 4 | Buying properties to rent out | 30,381 |
| 5 | Other business support activities NEC – includes debt collection, event organisers and office admin | 23,700 |
Top Industries Over Five Years
Looking at a longer five-year trend, ecommerce is also the most popular industry in the long term, with 142,603 businesses launched in the UK during that period. It was also the fastest-growing sector in the UK over five years, with a percentage growth of 92.5%.
In second place is buying properties to resell, with over 120,000 companies started in the last 5 years. The property industry continues its success with buying properties to rent out placing third. 115,710 companies have started in this sector in the last five years.
| Rank | Top UK Industries in the Last Five Years | Number of Companies Started |
| 1 | Ecommerce | 142,603 |
| 2 | Buying properties to resell | 124,482 |
| 3 | Buying properties to rent out | 115,710 |
| 4 | Business consulting | 102,097 |
| 5 | Other business support service activities NEC – includes debt collection, event organisers and office admin | 67,713 |
Fastest-Growing Industries
The UK’s fasted growing industry is (again) ecommerce, leading the pack with an impressive growth rate of 92.5%, solidifying its position as the dominant sector in the UK business landscape.
Following closely is the door-to-door sales and vending machines industry, showing a robust growth of 83.6%. The property market also demonstrates significant expansion, with buying properties to resell growing by 58.6%.
| Rank | Industry | % of Growth in the Last 5 Years |
| 1 | Ecommerce | 92.5% |
| 2 | Door-to-door sales and vending machines | 83.6% |
| 3 | Buying properties to resell | 58.6% |
| 4 | Activities of other holding companies NEC | 57.8% |
| 5 | Information technology consultancy activities | 57.5% |
Unsurprisingly, most new businesses are concentrated in London. London leads the way as the top UK city for new businesses, with a total of 243,269 companies registered between June 2023 and June 2024.
Online retail dominated in the majority of cities this year, with property and freight transport making appearances in the top 20 as well.