New figures reveal 2015 was a record year for business
More companies were registered in the UK last year than in any year previously, according to new figures.
There were a record-breaking 612,565 firms formed in 2015 across Great Britain – up from 586,784 the year before.
The statistics were compiled by Inform Direct, a provider of online company formations and secretarial software, using data available from Companies House and the Office of National Statistics.
Its report – The Inform Direct Review of UK Company Formations in 2015 – includes a league table of company formations county by county as well as statistics on firms registered and dissolved and percentage growth.
The report shows for the twelve months ended 31st December 2015, 551,886 new companies were registered in England, 34,711 in Scotland, 14,689 in Wales and 7,254 in Northern Ireland.
In terms of regions, London led the way with 198,282 new businesses registered – meaning that, for the first time ever, there are now more than one million companies based in the capital.
Henry Catchpole, managing director, Inform Direct said:
“Our dynamic economy and business-friendly environment are the reasons there is a ‘Great’ in Great Britain.
“All around the world, governments are spending time and money to figure out the best way to foster an entrepreneurial culture that helps boost the economy.
“But here in the UK, our politicians can nurture this business mentality that has established itself organically.
“Of course London has always stormed ahead in business but our figures from 2015 demonstrate that the rest of the UK is also displaying a growing confidence in entrepreneurialism.”
Other areas of the country demonstrating entrepreneurial spirit were Greater Manchester with 28,265 new firms in 2015 and the West Midlands with 26,952.
Not far behind was West Yorkshire with 17,066 new companies registered and Essex with 16,147.
Inform Direct used its software to identify not only start-ups, but also the number of UK companies dissolved in the same period.
This has created an accurate picture of firms now registered county by county in the UK.
The total figure at the start of 2016 stood at 3.76 million.