Oxford named top place to open a new pub

03-Mar-2022 - Last updated on 03-Mar-2022 at 10:43 GMT

Firms launched: the number of new hospitality businesses founded in 2021 was almost 65,000 (image: Getty/Janeycakes Photos)

Related tags Oxford Property Multi-site pub operators Finance

Southern city Oxford has been highlighted as the top area where demand outweighs supply for pubs, according to new research.

A new study using Companies House data by Yell Business analysed Google searches and found after Oxford, which had 523.36 searches per listing, was Milton Keynes, which had 479.7.

East Sussex city Brighton had 452.74 searches per listing, showing these three locations as key areas where demand outstrips supply for pubs.

Furthermore, the data also revealed the number of companies formed in each business sector in 2021.

New businesses launched

It showed in hospitality, there were 64,404 firms founded last year, making it the fifth fastest growing sector – behind retail (119,948), professional services (116,669), real estate (109,570) and commercial services (67,858) but ahead of construction (61,035), wholesale (45,578), information and communication (37,175), manufacturing (36,538), and health and social work (36,753).

The total number of new hospitality businesses founded during 2021 equated to 9% of all new companies started.

Of the new ventures founded within the sector, 16,898 were takeaways and mobile food stands.

Elsewhere in the hospitality sector, the top place to open a new bar was Newcastle-upon-Tyne with 422.54 searches per listing, followed by Belfast (413.97) and then Bournemouth (365.16).

Entrepreneurial spirits

Yell CEO Claire Miles said: “With the challenges of the past two years, we might expect to find fewer people were deciding to take the leap into the world of starting and running their own business.

“However, the data clearly shows it has potentially inspired more people to take ownership of what they do for a living and finally make the dream of running their own business come true. It certainly has when it comes to the hospitality sector.

“With the background of the pandemic and numerous economic and supply chain challenges, it is really encouraging to see the entrepreneurial spirit of the UK is continuing to grow year on year.

“We look forward to working with some of these new business owners in the hospitality market in 2022, to help make their venture a success.”