Inform direct have released their yearly review of the UK Company Formations, which gives a great insight into how many businesses opened their doors and closed their doors in 2018.
The data is collected from Companies House and the Office of National Statistics. The review is then compiled and the statistics produced on an awesome, interactive, regional map.
This means we can see how many business were formed and closed in the UK and compare them to previous years.
Their website also allows you to take a look at your own region’s performance over the past 5 years!
Below are some of the highlights from 2018 and a link to their website for the full findings.
UK Company Formation Highlights
It’s really positive news for 2018!
The number of UK companies stands at 4,308,022. This is an all time high, and an increase of 4.6% since 2017.
A total of 669,855 companies were formed in 2018, another all-time high! The previous record was in 2016.
However, 504,613 UK companies closed their doors for good in 2018, meaning that for every 100 UK companies started, 75 were closed.
Over the past five years, the number of UK companies in existence is up by 30.8%.
This data is a massive positive given the uncertainty of Brexit, the fluctuation of the pound and other factors.
London is where the most startup activity happens! 217,617 new companies were based in London, meaning around a third of UK startups were in the capital city of England.
Outside of London, the most popular areas for new company formations in England were the West Midlands (32,571), Greater Manchester (31,875), West Yorkshire 18,204) and Essex (17,063).
For the full statistics, presented in an awesome interactive format by Inform Direct – click the link below.
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