Nearly 12,000 new businesses have been set up in Scotland since the start of the year, according to research from insolvency and restructuring trade body R3.
The figures are based on an analysis of data provided by Creditsafe, revealing 11,783 new businesses were set up during January, February, March and April.
March was the busiest month for Scottish start-ups, with 3,494 businesses being set up that month, followed by February (2,925) and January (2,715).
It mirrors the UK-wide picture, which saw 77,790 businesses set up in March, along with 66,024 set up in February, and 64, 264 set up in January.
Richard Bathgate, chair of R3 in Scotland, said: “The start of the year and the end of the Covid restrictions have clearly led to a boom in entrepreneurialism in Scotland, with a large number of people starting their own businesses.
“It’s clear people are still confident about the economy despite the recent turbulence caused by the pandemic and the war in the Ukraine and there’s clearly a belief the market can support new businesses.
“Despite this, it’s crucial to bear in mind that we’re operating in the most difficult economic climate since the pandemic was at its peak,” he continued, adding: “Businesses are facing increased creditor pressure, rising inflation and low consumer confidence, all of which will have an effect on their margins and their finances.”
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