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Record year for new business start-ups in the region

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Undeterred by Brexit and political upheaval, entrepreneurs set up more new businesses in Norfolk, Suffolk and Cambs during 2018 than in any previous year. In Norfolk, 4,542 new companies were registered, ( up 3.3% on 2017); in Suffolk it was 4,292 (up 3.5%) and in Cambs, 6,786 (up 6.3%), according to figures from the Inform Direct Review of Company Formations, using Companies House and ONS data.

John Korchak (photo), director of operations at Inform Direct, said: "These record high figures for new company formations in Norfolk, Suffolk and Cambridgeshire show a very positive picture for business against a background of political and economic uncertainty. It is clear that these counties continue to provide a supportive environment, both for new business ventures and existing enterprises. It is heartening to see entrepreneurs making their mark with increasing numbers of new businesses being formed. This picture is mirrored elsewhere in the UK, with a number of regions seeing more new formations in 2018 than at any time in their history and the UK as a whole achieving a new record total of registered companies.”

Across the UK as a whole, a record number of new companies were formed– 669,855 compared with 634,116 in 2017. The number of registered companies in the UK also continued to grow, finishing the year with a total of 4,308,022. To see the report visit:  https://www.informdirect.co.uk/company-formations-2018/ Inform Direct is a company secretarial and formation specialist.

Last Updated ( Thursday, 31 January 2019 08:03 )