Strong growth for new businesses in Cheshire

Figures just published show that Cheshire saw strong growth in the number of new company formations during 2018 – despite the challenges of political and economic uncertainty surrounding Brexit.

John Korchak John Korchak

In terms of new companies, 13,259 were registered in the county compared to 11,619 in 2017, which represents an increase of 14.1%.

This brings the total number of registered companies in Cheshire to 78,274, up from 76,254 at the end of 2017, which equates to 2.6% growth.

The statistics come from the Inform Direct Review of UK Company Formations using data from Companies House and the Office for National Statistics.

Warrington formed the most new businesses (6,243) followed by Cheshire East  (3,438) and Cheshire West and Chester (2,765).

John Korchak, director of operations at Inform Direct said: “These figures demonstrate strong growth for new company formations in Cheshire, a 14.1% increase on 2017. It presents a very positive picture for business against a background of political and economic uncertainty and shows that the county continues to provide a supportive environment, both for new business ventures and existing enterprises.

This achievement is replicated in a number of counties and in the UK as a whole which has seen a new record total of registered companies.”

Across the UK as a whole, a record number of new companies were formed– 669,855 compared with 634,116 in 2017.

The number of registered companies in the UK also continued to grow, finishing the year with a total of 4,308,022.

Of the 598,323 formations in England, 217,617 were in London. 33,333 companies were formed in Scotland, 18,079 in Wales and 8,173 in Northern Ireland.

To see a more detailed picture of company formations in Cheshire – including a full local breakdown, visit:

https://www.informdirect.co.uk/company-formations-2018/cheshire/

To see the report in full visit: https://www.informdirect.co.uk/company-formations-2018/

 

 

 

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