Northern Ireland fastest growing UK region for start-ups last year [Video]

Northern Ireland was the fastest-growing UK region for starts-ups last year, according to a new index from Ulster Bank and Beauhurst.

Approximately 14,000 companies were set up in the North in 2023, an increase of 59% year-on-year, with Belfast recording a 123% uplift in new businesses.

Causeway Coast and Glens (fifth), and Lisburn and Castlereagh (seventh) also made the top 10 by growth in the number of companies incorporated, with the number of new businesses growing by 61% and 54% since 2022, respectively.

The retail sector was the responsible for the largest increase in the number of new businesses in Northern Ireland with 3,605 new companies established.

“These new ventures are predominantly small businesses, owned and run by local people, which will play an important role in supporting the growth of Northern Ireland’s economy,” said Mark Crimmins, head of Ulster Bank.

“At Ulster Bank we believe we have a key role to …