Surge in number of new UK businesses with record-highs across country

New analysis has revealed that outside of the miserable Remainstream media bubble, huge numbers of people are setting up businesses and getting on with it.

Using data from Companies House and the Office for National Statistics, the Inform Direct Review of UK Company Formations have revealed that 669,855 new businesses formed in the UK during 2018. That’s an increase of 4.6% compared to 2017 when 634,116 new businesses were founded.

London came top with 217,000 new businesses, followed by 32,500 in the West Midlands and 32,000 in Greater Manchester. The 669,000 new businesses formed is far greater than the 504,000 that were dissolved.

Interestingly there has been huge growth in the past five years. In 2013 there were 3.3 million UK companies and by 2018 that has shot up to 4.3 million, an increase of 30.8%.

In a number of areas, 2018 saw the largest ever number of new companies. Essex saw a record total of 17,063 companies formed in the county, in London a new high of 217,617 companies were formed in the capital, whilst in Cornwall 2,829 companies were formed in 2018 which is another record-high. The number of companies based in Cornwall stands at an all time high of 21,904.

The Director of Operations at Inform Direct, John Korchak, has said: “These record high figures for new company formations in Cornwall show a very positive picture for business against a background of political and economic uncertainty. It is clear that the county continues to provide a supportive environment, both for new business ventures and existing enterprises.

“It is heartening to see entrepreneurs making their mark with increasing numbers of new businesses being formed. This picture is mirrored elsewhere in the UK, with a number of regions seeing more new formations in 2018 than at any time in their history and the UK as a whole achieving a new record total of registered companies.”

This positive news on the business front follows on from the UK having just recorded the largest monthly budget surplus since 1993 (£14.9 billion) and and some unbelievably good figures for the economy, including an employment rate that is the joint-highest since 1971!

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