Figures just published show that Yorkshire enjoyed a successful year for new company formations during 2019 – with North Yorkshire, South Yorkshire and West Yorkshire welcoming record numbers of new businesses.
The statistics come from the Inform Direct Review of UK Company Formations using data from Companies House and the Office for National Statistics.
North Yorkshire achieved its second successive record year, during which 7,260 new companies were registered in 2019, compared to 6,822 in 2018. In South Yorkshire, 9,325 new companies were registered compared to 8,542 in 2018 and in West Yorkshire, 18,752 were registered in 2019, compared to 18,204 in 2018.
The East Riding of Yorkshire also saw an increase in the number of new businesses being established, with 3,258 compared to 3,195 in 2018.
Overall, Yorkshire saw 38,595 new companies being established, up from 36,763 at the end of 2018 and is now home to a total of 263,902 businesses, an increase on the total of 254,419 at the end of 2018.
John Korchak, director of operations at Inform Direct, said: “These figures for new company formations during 2019 show that Yorkshire as a whole continues to be a fertile ground for entrepreneurs and new business ventures. South Yorkshire and West Yorkshire achieved record years – and North Yorkshire a second successive all-time high – and there was growth in the East Riding of Yorkshire too.
“With Brexit uncertainty casting a shadow – and some companies experiencing falling sales or choosing to relocate internationally – it is heartening that we are seeing signs of business optimism with so many new companies being created. This picture is mirrored nationally with an all-time high of nearly 700,000 new businesses formed in the UK as a whole.”
Alongside this record number of formations – 690,763 compared to 669,855 in 2018 – the overall number of UK companies also continued to grow, with a new high of 4,471,008, a 3.8 per cent increase on the total of 4,308,022 at the end of 2018.
To see the report in full visit: https://www.informdirect.co.uk/company-formations-2019/
Inform Direct is a company secretarial and formation specialist. Its award-winning company secretarial and formations software currently supports more than 150,000 UK companies.