Kent economists have been measuring new businesses registered in the UK over the year, this commemorative film charts their results over the three lockdowns. <\/p>\n
Today is the first anniversary of lockdown in the UK.<\/p>\n
How did it effect Business Creation? Did the initial shock persist? Which sector saw the biggest change? How have businesses adapted to the pandemic?<\/p>\n
Economists at Kent have been regularly measuring the monthly changes to the amount of businesses starting during the year, work headed up by a team at Maghic<\/a>, headed up by Dr Anthony Savagar<\/a>, along with Dr Alfred Duncan<\/a> and Professor Miguel Leon Ledesma<\/a> and Postdoctoral Research Associate Yannis Galanakis,<\/a> with funding from the Economic and Social Research Council<\/a>.<\/p>\n \u201cOur project on firm creation<\/a> has been documenting the economic impact of COVID-19 for nearly a year.” Savagar explained “The most striking observation is that for most of the last year firm creation has been in overdrive -far higher than we would usually observe. Perhaps unsurprisingly, this is driven by a restructuring of the economy towards covid-friendly industries such as retail sales via the internet. We are now moving towards the economic recovery stage of the crisis, and we will continue to present real-time data analysis to aid policymakers and inform the public.\u201d<\/p>\n Galanakis has made this film<\/a> based on the latest report, March<\/a>, in commemoration.<\/p>\n