Strong growth in new firms

Figures just published show that West Sussex saw strong growth in the number of new company formations during 2018 – despite the challenges of political and economic uncertainty surrounding Brexit.

In terms of new companies, 6,048 were registered in the county compared to 5,598 in 2017, which represents an increase of 8.0%. This brings the total number of registered companies in West Sussex to 51,556, up from 49,845 at the end of 2017, which equates to 3.4% growth.

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

Mid Sussex formed the most new businesses (1,242), followed by Horsham (959) and Chichester (894).

John Korchak, director of operations at Inform Direct said: “These figures demonstrate strong growth for new company formations in West Sussex, an 8% increase on 2017. It presents a very positive picture for business against a background of political and economic uncertainty and shows that the county continues to provide a supportive environment, both for new business ventures and existing enterprises.

“This achievement is replicated in a number of counties and in the UK as a whole which has seen a new record total of registered companies.”

Across the UK as a whole, a record number of new companies was formed – 669,855 compared with 634,116 in 2017. For a more detailed picture of company formations in West Sussex, visit: https:// www.informdirect.co.uk/ company-formations-2018/ west-sussex/