NEW FIRMS DEFY CORONAVIRUS CRISIS

NEARLY 200,000 companies have been started up since the beginning of the coronavirus lockdown.

The number was just over 42,000 in April but had shot up to more than 77,500 by last month.

Mobile phone giant O2, which analysed Companies House data, said 8000 building firms alone had been registered since April.

And there are 2646 new hairdressing and beauty companies – despite most being prevented from opening until recently.

The list also includes almost 3500 new takeaway food shops and mobile food stands.

London had the most start-ups but, ¢ About 86 per cent of staff want to work from home at least once a week, says a survey by flexible office space provider HubbleHQ. But only 15 per cent would want to do it every day. ¢ Cinema audiences are predicted to fall to their lowest for more than 30 years because of coronavirus restrictions.

Industry experts Enders Analysis said limits on customer numbers after reopening and studios delaying releases had put pressure on the sector. taking population into account, Manchester came top. An O2 Business spokesman said: “Despite the difficulties of launching a new business at this moment, it’s encouraging to see so many entrepreneurs ready to get the nation back on its feet.” Some of the world’s biggest companies were started in downturns. Walt Disney Productions proved an inspiration during the Great Depression, starting up in 1923. Microsoft was started in 1975, when the United States was mired in stagflation. And the first Next womenswear stores opened in 1982, with the UK emerging from recession.

Mickey ¢ Credit card firms have cut the length of time they offer 0 per cent interest on balance transfers since the start of the lockdown. Barclaycard has cut its deal from 27 months to just 18, while Halifax and Virgin Money have both chopped their terms from 29 months to 22, according to personal finance site Moneycomms. co.uk. Spokesman Andrew Hagger said lenders are wary of a looming deep recession and a surge in unemployment among borrowers.

GLOBAL stock markets rallied by more than £500billion yesterday amid hopes of a global economic fightback.

The FTSE 100 closed up almost 81 points, at 6176. And it was matched by indexes elsewhere.

In the US, shares in electric car firm Tesla hit a record high at £240billion.

Investors are banking on better-than-feared results from other US firms after those from fizzy drinks and Doritos maker PepsiCo.

Oil = $43.24

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