New companies and % of workforce in professional & technical sector
New businesses tend to be created in regions of the UK where there's a high proportion of the workers in the professional & technical sector (correlation coefficient 0.94). Coincidence or is there a more serious link?
New business births are unevenly distributed around the UK, with the highest concentration in the South of England. As the figure above shows, approximately 150,000 new businesses were founded in London and the South East combined in 2018.
A similar trend is seen in the percentage of workers employed in the professional, scientific & technical sector across regional workforces. This correlation may be a coincidence, or a preference for the South as the location for starting new businesses. Or it may indicate a more serious underlying link.