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Almost 100,000 micro businesses have been started in rural areas in the last 12 months according to new research.
The data from Venture Forward, an initiative from GoDaddy, shows that more than a quarter of Britain’s 2.3 million microbusinesses are based rurally, with more than 94,000 start-ups in the last year. The South of England dominates this boom with the South East accounting for 24% and the South West for 15.8%.
The research also reveals that the trend for rural micro businesses is being driven by women with figures showing that in 2023, 43.6% of rural entrepreneurs were female. This compares to 35% in urban areas. The report goes onto say that with 75% of these businesses employing at least one other person, they can potentially support almost 2.5 million jobs for the UK economy.
Retail and consumer businesses are leading the rural boom, with entertainment and the arts sector closely behind. Furthermore, despite the additional pressures of the Cost of Living crisis, most rural businesses are predicting growth in the next 12 months, with less the 10% saying they expect to see a fall in turnover.
Andrew Gradon, Head of GoDaddy UK & Ireland, said:
“This data demonstrates a sizeable shift we are seeing in Britain’s microbusiness community. While in the past commerce and enterprise was associated with major urban hubs, advancements in technology and online tools mean businesses can be easily started from anywhere.
“Venture Forward suggests that the countryside economy is in good health, generating billions for the economy and supporting millions of jobs. However, the cost-of-living crisis is an ongoing concern and rural businesses have been hit by rising costs just like their urban counterparts have. As a company committed to helping everyday entrepreneurs thrive, GoDaddy is determined to support small business owners in rural areas.“
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