20,000 new firms registered in Shropshire
More than 20,000 companies were registered in Shropshire for the first time ever last year, figures have revealed.
The figures show more new companies were registered in the county during 2016 than in any previous year.
In terms of new businesses, 2,496 were registered in the county compared to 2,416 in 2015.
The number of registered companies in Shropshire now totals 20,422, up from 19,451 at the end of 2015, which equates to five per cent growth.
The statistics come from the Inform Direct Review of UK Company Formations, using data from Companies House and the Office of National Statistics.
Telford and Wrekin formed 883 new businesses, with 1,613 starting in other parts of Shropshire.
Figures show 96 per cent were private limited companies and four per cent were other company types.
The total number of companies at the end of 2016 per 1,000 people was 43.1 per cent in Shropshire, compared with a national average of 62.6 per cent.
In Powys 425 businesses formed in 2016, compared with 392 which dissolved.
Meanwhile, the number of businesses which dissolved in Shropshire during 2016 was 1,763.
John Korchak, director of operations at Inform Direct, said: "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.
"Shropshire 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. The total number of companies also passed the 20,000 milestone for the first time."
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.
There were 32,999 in Greater Manchester, 31,162 in the West Midlands, 17,837 in west Yorkshire and 17,671 in Hertfordshire.
Figures also show 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 Shropshire – including a full local breakdown – visit: informdirect.co.uk/company-formations-2016/shropshire
Inform Direct is a company formation specialist, offering a range of online packages to help those starting a new business.
