Durham sees record number of new businesses formed
More new companies were registered in Durham during 2016 than in any previous year, new figures show.
In terms of new businesses, 4,017 were registered in the city, compared to 3,834 in 2015.
The number of registered companies in Durham now totals 25,127, up from 24,091 at the end of 2015, which equates to 4.3% growth.
The statistics come from company formation specialist Inform Direct Review’s of UK Company Formations, compiled using data from Companies House and the Office of National Statistics.
County Durham formed the most new businesses in the region (2,097), followed by Stockton-on-Tees (791) and Darlington (641).
John Korchak, Director of Operations at Inform Direct said the figures were evidecne of the city’s fertile business environment: “These figures underline the positive entrepreneurial culture that fosters new company formations and drives economic growth.
“So far, at least, we’re not seeing evidence that the Brexit vote has dented confidence among those considering starting up in business.
“Durham again delivered an impressive number of new companies in 2016 – more than in any previous year – demonstrating that it offers a fertile environment for new businesses to spring up and prosper.”
Across the UK as a whole, there were a record-breaking 664,720 companies formed – up from 612,565 in 2015.
The number of UK companies now stands at 3,962,909.
Of the 601,418 formations in England, 209,869 were in London. 35,502 companies were formed in Scotland, 15,795 in Wales and 7,389 in Northern Ireland.
To see a more detailed picture of company formations in Durham – including a full local breakdown, visit: www. informdirect.co.uk/companyformations2016/durham/
To see the report in full visit: www.informdirect.co.uk/ company-formations- 2016/