Escape to the country: New research shows ‘British boom’ in rural entrepreneurs

Almost 100,000 rural microbusiness have been started in the past 12 months, with female entrepreneurs at the heart of the ‘booming countryside economy’.

Data from Venture Forward, an annual international research initiative by GoDaddy that analyses data from more than British 2.3 million microbusinesses, shows that 25.9 per cent of Britain’s microbusinesses are based rurally, up from 24.1 per cent in 2022.

This equates to 94,464 new startups over the past 12 months, suggesting that Britain’s countryside has become a hotbed for entrepreneurial talent. GoDaddy’s figures also show that this trend is being driven predominantly by women.

In 2022, 33.1 per cent of rural entrepreneurs were female, which has jumped to 43.6 per cent in 2023. Comparatively, 35 per cent of urban microbusiness owners are women. With three quarters (75 per cent) of these businesses also employing at least one other person, they potentially can support almost 2.5 million jobs.

Venture Forward data shows that rural entrepreneurs are also older than their city-based counterparts. A quarter (26 per cent) of urban microbusiness owners are over 50, which jumps to two fifths (39 per cent) for those running rural businesses.

Retail and consumer businesses are at the forefront of the countryside economy, accounting for 14 per cent of ventures. Entertainment and the arts is another major sector, accounting for 10 per cent, with IT and technology (8 per cent), professional and business services (7 per cent) and education (6 per cent) among other popular industries.

Reducing barriers to entry, facilitated by the increase in online tools and services, could also be playing a major role in the thriving countryside economy. Two in five (43 per cent) of rural businesses were started for less than £1,000, with a further fifth (21 per cent) of entrepreneurs requiring less than £5,000 of capital to start trading.

Andrew Gradon, head of GoDaddy UK & Ireland, commented: “This data demonstrates a sizable 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.”

By Matthew Neville – Senior Correspondent, Bdaily

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