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New Startup Index H1 2026

In collaboration with NatWest, we examine business and venture creation across the UK in H1 2026.

New Startup Index H1 2026 cover

A total of 402k new companies were incorporated during H1 2026, down 5.7% year-on-year and the second consecutive half-year decline. Even so, the UK’s active company base continued to climb to 5.66m, signalling a resilient underlying business environment despite the slowdown in new formations.

London recorded the highest number of incorporations (136k), while Scotland, the East Midlands and the East of England led regional growth since H2 2025. Sector analysis highlights the rapid rise of application software, now the UK’s most common industry for new companies.

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Inside the report

New Startup Index H1 2026 — executive summaryNew Startup Index H1 2026 — regional incorporation analysis

About the authors

  • Henry Whorwood headshot

    Henry Whorwood

    Managing Director

    Henry leads our Beauhurst Insights team, and is an expert on equity finance and high-growth business. He's worked on briefs for the likes of Barclays, SyndicateRoom, Innovate UK, Smith & Williamson and British Business Bank. He regularly gives presentations on market trends at events around the UK.

  • Callum Newton headshot

    Callum Newton

    Public Sector Lead

    Callum is the Public Sector Lead for Beauhurst Insights, responsible for leading on the team's public sector work. Before joining Beauhurst, Callum was a Senior Researcher at Westminster-based think-tank Onward focusing on 'Levelling Up' policy. He was also a Consultant in Portland Communication's specialist Litigation & Disputes practice.

  • Hannah Nicholls headshot

    Hannah Nicholls

    Senior Designer

    Hannah produces graphic design and data visualisation for the Beauhurst Insights team, and has accumulated over 11 years of experience within the design industry. In the last 4+ years, she has specialised in data visualisation and report design, focusing on creating bespoke reports for strategy and thought leadership.

  • Miraj Mistry headshot

    Miraj Mistry

    Senior Research Manager

    Miraj handles project management and data analysis for Beauhurst Insights. His previous role was with an economic consultancy who specialise in providing socio-economic research and analysis to support infrastructure and transport projects. He holds an MSc in economics from the University of Bristol and a BSc from the University of Leeds.

  • Freya Morten headshot

    Freya Morten

    Research Manager

    Freya manages research projects and data analysis at Beauhurst Insights. She recently joined the team, having previously conducted and led research at Grant Thornton and Mishcon de Reya across multiple service lines, industries and geographies. She holds a BA in Theology from the University of Oxford.

  • Justin Tsui headshot

    Justin Tsui

    Associate

    Justin handles data analysis and visualisation, as well as copywriting. Before joining, Justin graduated from Imperial College London, where he was awarded a MSc in Applied Biosciences and Biotechnology. He has also previously worked in consulting and academia.

  • Michael Breslin headshot

    Michael Breslin

    Data Science Manager

    Michael uses advanced statistical and econometric methods to provide clients with more in-depth, impactful, and novel analyses. He also automates processes by developing and implementing new analytics tools. Before joining Beauhurst, Michael was a data analyst at a policy organisation, where he researched innovation policy.

  • Evangeline Luckhurst headshot

    Evangeline Luckhurst

    Designer

    Evangeline produces graphic design and data visualisation in the Beauhurst Insights team. Prior to joining Beauhurst, Evangeline graduated from University for the Creative Arts, where she was awarded a BA (Hons) in Illustration and Animation.

  • Ruth Rimmer headshot

    Ruth Rimmer

    Associate

    Ruth worked as a Data Curator at Beauhurst for two years before joining the Beauhurst Insights team, where she now carries out data analysis, data visualisation and copywriting. She holds a BA in Anglo-Saxon, Norse and Celtic and an MA in Medieval Studies.

  • Tom Sharpe headshot

    Tom Sharpe

    Associate

    Tom performs data analysis and visualisation as well as copywriting for the team. Prior to joining Beauhurst Insights, he spent 2 years in the Data team, helping curate our dataset, with a specific focus on IPOs and Exits. Tom holds a BSc (Hons) in Sport and Exercise Science from Loughborough University and enjoys consulting on mental health research.

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