New business during COVID

A wave of entrepreneurship is sweeping the UK, London-based technology developer Studio Graphene reports. It found that 8% have started their own business during the pandemic, with a further 10% considering or in the process of doing so. Of those who have started or are starting their own venture, 36% said they saw a clear gap in the market for a new product or service due to the pandemic. Ritam Gandhi, founder and director of Studio Graphene, said: “The rise of the ‘kitchen table entrepreneur’ is encouraging to see… In many ways, the pandemic has created a perfect storm for entrepreneurship: huge market shifts, much more time in our own homes and a surge in furloughs and redundancies. And, a bit like the 2008 financial crisis, this state of flux has created many new opportunities for would-be entrepreneurs, so it’s positive that so many people have been inspired to act”.