8th Apr, 2020

Latest stats show more new businesses in Worcestershire than ever before

Harry Leach 26th Feb, 2020

LATEST statistics show more new businesses were established in Worcestershire during 2019 than in any previous year – marking a positive upturn after the county reported a fall at the end of 2018.

Despite political and economic challenges, 9,971 new companies were registered compared to 6,889 during 2018, an increase of 44.7 per cent.

The figure brings the total number of registered companies in Worcestershire to 43,247, up from 37,800 at the end of 2018 – a growth of 14.4 per cent.

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

Bromsgrove once again formed the highest number of new businesses – 5,530 – followed by Wychavon – 1,352, and Wyre Forest – 1,112.

Redditch was in fourth position with 800, Worcester fifth with 683 and Malvern Hill with with 485.

John Korchak from Inform Direct said: “Reporting a record year for new company formations in Worcestershire during a turbulent year, politically and economically, is a major achievement.

“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.”

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