Five years after the first Covid-19 lockdown, data from Start Up Loans shows a positive trend in entrepreneurship, with a 10% increase in first loans in London compared to the previous five years. The total value of these loans increased by 25%, amounting to £19.5m. The financial year ending around the lockdown saw substantial support, with 1,943 loans approved, a 50% increase from the previous year. This surge in aspiring founders capitalizes on the lockdown period, which prompted many to rethink careers and pursue their business dreams.
Start Up Loans data shows a 50% increase in loans for UK startups post-lockdown, with many entrepreneurs seizing the chance to pursue their business dreams.
Celia Foot and Sophie Salisbury, co-founders of Reia, highlight how lockdown prompted many to reflect and pursue new ventures, leveraging Start Up Loans to kickstart their business.
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