New research has identified the fastest-growing industries for British businesses, with Health and Social Care taking the top spot. The study, conducted by experts at MRPeasy, analyzed business birth and death data from the Office for National Statistics to calculate each industry’s success rate from 2022 to 2024.
The Health and Social Care sector has grown by 8.06% since 2022, adding 8,540 new businesses. This industry now represents 4.26% of all UK businesses and 3.89% of all new business births in the last two years. The sector includes a wide range of businesses involved in hospital services, dental and medical activities, at-home medical nursing, residential care, social work, and children’s daycare.
In second place is the Real Estate industry, which has grown by 5.06%, followed by Education, with a growth of 3.27%.
On the other hand, the Transportation and Storage industry is struggling, with a 16.51% decline in businesses since 2022, making it the worst-performing sector for British businesses currently.
In second place is the Real Estate industry, with a growth rate of 5.06% between 2022 and 2024. There have been 5,620 new business registrations in this industry. During this period, Real Estate businesses have grown to account for approximately 4.34% of all British businesses and 3.67% of total business births.
These businesses are establishments involved in Real Estate activities, such as buying, selling, renting, letting or operating real estate such as conference centres and private housing.
Businesses in the Education industry have grown by 3.27%, making them the third most successful. The Education industry has seen 1,535 new businesses prosper since 2022, now comprising 1.80% of all businesses and 1.62% of business births.
The Education industry includes any establishment involved in pre-primary, primary, secondary and any level of higher education such as post-graduate. It also involves the teaching of technical, vocational, cultural, sports, recreational, and driving activities.
Fourth place belongs to the Construction industry, experiencing a 1.93% growth over two years, with 7,250 new businesses thriving during this period. Businesses in this industry now account for 14.21% of all businesses in the UK and 14.69% of all business births between 2022 and 2024.
This industry entails establishments involved in the development, construction, preparation or demolition of residential, non-residential, commercial or domestic buildings and projects such as railways, roads, bridges, and tunnels. It also includes businesses involved in electrical, plumbing, roofing, and other installation activities such as heating.
Taking fifth place among the best industries for British businesses is the Arts, Entertainment, Recreation and Other Services industry, growing by 1.83% between 2022 and 2024. This means 3,320 new businesses have succeeded during this time and now account for 6.84% of all UK businesses and 6.54% of all business births.
Establishments in the Arts, Entertainment, Recreation and Other Services industry facilitate, operate or support activities for performing arts, museum activities, historical, tourist, amusement, and recreational activities, as well as repair work, gambling, or fitness activities.
