This represents just over 5% of all new businesses across the industry launched last year. In 2021, just 71 similar businesses were launched by 18 to 25-year-olds. The leap year on year is vast and equates to more than 300%.

These findings are in line with wider research which suggests the pandemic was a catalyst for young people to start up on their own and carve their own career paths. 

In total, 63,233 start-ups were launched by the younger generation in 2022, a jump of more than 400% year on year.

The companies were set up last year predominantly across London, Croydon, Birmingham, Glasgow, Manchester, and Reading.

There was also a large rise in the numbers aged 50 or over who started their heating and plumbing businesses last year. A total of 1,022 companies were launched by this age group.

John Williams, chief marketing officer at Easy Offices, said: “This spike of new businesses following the pandemic shows how it drove many people to take bold steps. There’s no age limit to starting a business and people who do this later in life bring a wealth of experience to the table.

“We have seen the number of sole traders and small businesses looking for office space leap year on year. This trend is based on a lot of more experienced workers leaving behind their white-collar jobs with blue-chip companies and looking to start their own ventures after the pandemic.

“It is the rise of the midlife entrepreneur, like that we saw in the aftermath of the Global Financial Crisis in 2008.

“A diverse workforce is a more productive one and we need people of all ages to have the opportunity to create new and exciting businesses.”