It’s boom time for new Notts firms

John Korchak, Director of Operations, Inform (left) and Henry Catchpole, CEO, Inform Direct
John Korchak, Director of Operations, Inform (left) and Henry Catchpole, CEO, Inform Direct
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Fledgling firms are springing up left right and centre in Nottinghamshire according to an encouraging new report looking into the county’s business trends.

The total number of registered companies in the county now comes to 45,573, up from 43,336 at the end of 2015, which equates to 5.2 per cent growth. During 2016, 6,642 new companies were established.

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

Nottingham formed the most new businesses with 2,466, followed by Rushcliffe with 781 and Newark and Sherwood with 636.

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.

“Nottinghamshire again delivered an impressive number of new companies in 2016, 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 total number of UK companies now stands at 3,962,909.

Of the 601,418 formations in England, 209,869 were in London.

There were 35,502 companies formed in Scotland, 15,795 in Wales and 7,389 in Northern Ireland.