New figures have shown that more new businesses were established in Merseyside during 2017 than in any previous year – in contrast to the national trend which saw an overall reduction in new company formations.
A total of 11,016 companies were registered in the county compared to 10,617 in 2016.
This brings the total number of registered companies in Merseyside to 63,781, up from 60,027 at the end of 2016, which equates to 6.3% growth. Over five years, Merseyside has witnessed 40% growth in active companies, making it one of the best performing areas of the UK.
The statistics come from the Inform Direct Review of UK Company Formations, using data from Companies House and the Office for National Statistics.
Liverpool formed the most new businesses in 2017 (5,287), followed by Wirral (2,064) and Sefton (1,938).
John Korchak, director of operations at Inform Direct said: “These record figures for new company formations during 2017 show that Merseyside continues to be a particularly fertile ground for entrepreneurs and new business ventures.
“The results buck the national trend which saw an overall reduction in the number of new company formations compared to 2016. This slowdown could be attributed, at least in part, to ongoing political uncertainty and concern in the business community over the impact of Brexit.”
Across the UK as a whole, there was a reduction in the number of new company formations – 634,116 compared with 664,720 at the end of 2016.
However the number of registered companies in the UK continued to grow, passing the 4,000,000 milestone during 2017 and finishing the year with a total of 4,120,349.
Of the 569,585 formations in England, 205,527 were in London. 34,002 companies were formed in Scotland, 17,408 in Wales and 7,398 in Northern Ireland.
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