Cornwall Achieves Second Record Year For New Businesses

By Inform Direct - 23rd January 2020

Latest statistics show that more new businesses were established in Cornwall during 2019 than in any previous year – hitting a record high for the second year in a row.

Despite political and economic challenges, 2,948 new companies were registered in the county compared to 2,829 during 2018, representing an increase of 4.2%.

This brings the total number of registered companies in Cornwall to 23,037, up from 21,904 at the end of 2018 - which equates to 5.2% growth.

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

Inform Direct Infographic - Company formations in Cornwall 2019

John Korchak, Director of Operations at Inform Direct said: “Reporting a record year – the second in a row – for new company formations in Cornwall during a turbulent year, politically and economically, is a major achievement. Attracting new ventures and encouraging entrepreneurs to set up there, means that the county is clearly delivering positive support for business.

“With Brexit uncertainty casting a shadow – and some companies experiencing falling sales or choosing to relocate internationally – it is heartening that we are seeing signs of business optimism with so many new companies being created. This picture is mirrored nationally with an all-time high of nearly 700,000 new businesses formed in the UK as a whole.”

Alongside this record number of formations – 690,763 compared to 669,855 in 2018 – the overall number of UK companies also continued to grow, with a new high of 4,471,008, a 3.8% increase on the total of 4,308,022 at the end of 2018.

To see a more detailed picture of company formations in Cornwall – including a full local breakdown, visit:

https://www.informdirect.co.uk/company-formations-2019/cornwall/

To see the report in full visit https://www.informdirect.co.uk/company-formations-2019/

Inform Direct is a company secretarial and formation specialist. Its award-winning company secretarial and formations software currently supports more than 150,000 UK companies.

Reporting a record year – the second in a row – for new company formations in Cornwall during a turbulent year, politically and economically, is a major achievement. Attracting new ventures and encouraging entrepreneurs to set up there, means that the county is clearly delivering positive support for business.

- John Korchak, Director of Operations, Inform Direct
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