2013 is poised to break previously records and witness more than 500,000 start ups businesses in the UK, according to figures released by StartUp Britain.

So far this year, a little under 400,000 start ups have been registered in the UK, with current trends suggesting the number will top half a million by the end of 2013.

Start ups and SMEs are massively important to the UK economy, accounting got 95% of all businesses and employing more than seven million people nationally. StartUp Britain’s campaign to help increase the number of start ups in the UK targeted a total of 500,000 by the end of 2013, a figure that currently stands to be exceeded.

Last year continued to show the UK as a hub of start up activity, with the Tech City EC1 postcode registering more than 15,000 alone. A total of 480,000 businesses were registered with Companies House in 2012, and 440,000 the year before. This year on year growth is a sold reflection that the entrepreneurial spirit is being nationally nurtured.

Emma Jones, co-founder of StartUp Britain, declared the findings as “excellent news for the country as we head towards the final straight”. With projects like Tech City fostering new ventures and providing a stable infrastructure for young business, the growth of the UK’s emerging technology hub and the broader start up community looks set to continue.

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