Company start-ups in Northumberland hit record high

A total of 1,577 new formations were registered in Northumberland during the last 12 months, bringing the total number of registered companies in the county to 13,228.

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

John Korchak, Managing Director at Inform Direct, said: “It is really good news that Northumberland can celebrate a record number of new companies.

“The year undoubtedly presented a range of challenges for business with the uncertainty of the General Election, the introduction of new regulations and concerns over Labour’s first Budget in October which included the increase in employer National Insurance. World events also played a part in economic volatility with the US Election and instability in the Middle East high up on the list.

“Despite all these factors, businesspeople in Northumberland demonstrated great resilience and inspired leadership, evidenced in this successful result.”

The UK as a whole mirrored this trend with a record total of 5,637,210 companies, up from 5,476,772 at the end of 2023. There were 848,192 formations during the year and 690,501 dissolutions.

To see a more detailed picture of company formations in Northumberland – including a full local breakdown – visit: https://www.informdirect.co.uk/company-formations-2024/northumberland/

To see the report in full, visit: https://www.informdirect.co.uk/company-formations-2024/

Inform Direct, part of Bright Software Group, is a company secretarial and formations specialist. Its award-winning company secretarial and formations software currently supports more than 450,000 UK companies.