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To be considered a unicorn startup, a privately owned business needs to reach an investor valuation of USD $1 billion or more. According to new research from the personal finance experts at money.co.uk, there are 847 unicorn businesses in the world as of September 2021.

Interested in unicorn enterprises, money.co.uk analysed data from CB Insights between January 2010 to September 2021 to establish which industries and countries have produced the most unicorn businesses.

From the 847 startup businesses that gained unicorn statuses from January 2010 to September 2021, the five countries which produced the most were:

1. United States – 424
2. China – 165
3. India – 41
4. United Kingdom – 33
5. Germany – 19

Additionally, the five industries which produced the most were:

1. FinTech – 167
2. Internet software and services – 144
3. eCommerce and direct-to-consumer – 88
4. Artificial Intelligence (AI) – 71
5. Health – 57

Money.co.uk also found that July is the most popular month for startups to become a unicorn, with 96 businesses achieving this status in the month of July between 2010 to 2021. The accumulative valuation of these businesses is an astonishing USD $292.22 billion.

The month coming into second place is September, as 90 startup businesses gained unicorn status from 2010 to 2021, with a collective valuation of USD $227.13 billion.

In joint third position are April and June, with both months seeing 88 startup businesses from 2010 to 2021 enjoying the newfound reputation of unicorn. The combined valuation of the 88 businesses in April is USD $360.08 billion, whilst the combined valuation of June’s businesses is USD $208.51 billion.

Contrastingly, data from the last 11 years notes February as the month which has seen the least number of startup businesses attain unicorn status at 43.

Overall, from January 2010 to September 2021, 847 startups have received the prestige of becoming a unicorn business and the total collective valuation of the 847 unicorn businesses is a colossal USD $2,747.05 trillion.

Salman Haqqi, personal finance expert at money.co.uk, offered guidance on what to consider when seeking a business loan to grow your business:

Be Transparent

Making a concise business plan is important. It should establish how the business is going to realistically achieve desired milestones in the short and long-run, and how every penny of the bank loan will be spent throughout the different phases of expected growth.

Be Aware of Loan Covenants

Some banks will insist on a range of nonnegotiable terms before providing you with the business loan. This could include the inability to take on additional loans, the inability to sell specific assets and the inability to pay cash dividends over a certain period. Be aware of any loan conditions before agreeing to a business loan.

Seek Expert Advice

The business loans market (like many others) is very turbulent at the moment due to the economic uncertainty caused by the COVID-19 pandemic. If you are struggling to navigate through it, consider consulting a qualified expert to help you through the loan application and analysis process.

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