Merseyside sees record number of new businesses formed in 2019Published on Business stage: Starting, Thinking
Using data from Companies House and the Office for National Statistics, business software provider Inform Direct reveals that 11,866 new companies were registered during the year.
Merseyside has seen a record number of new business formations for the second year in a row, new figures reveal.
Using data from Companies House and the Office for National Statistics, business software provider Inform Direct reveals that 11,866 new companies were registered in the county compared to 11,451 during 2018, representing an increase of 3.6%.
This brings the total number of registered companies in Merseyside to 68,401, up from 65,551 at the end of 2018 – which equates to 4.3% growth. This covers the county’s five boroughs – Liverpool, Wirral, Sefton, Knowsley and St Helens.
Liverpool saw the biggest rise in new companies, up 5,429 to 29,776; Wirral was next, rising 2,151 to 11,413; then Sefton 2,020 to 12,532; St Helens 1,170 to 5,981; and Knowsley, up 944 to 5,288. Halton, which is part of the Liverpool city region but is actually in Cheshire, saw a rise of 792 formations to 4,914.
Merseyside benefits from a number of initiatives to encourage people to start their own businesses. One, Enterprise Hub, is run by lead agency The Women’s Organisation. Since launching its first phase in December 2015, Enterprise Hub support has helped to create more than 1,060 new businesses
Thousands of budding and early-stage entrepreneurs have benefited from the programme over the last four years, with nearly 6,000 individuals registering for support.
And, More than 1,600 budding entrepreneurs have used a free business advice clinic at Liverpool’s Central Library since it was launched five years ago. Liverpool’s Deputy Mayor Gary Millar, himself a successful entrepreneur, is an ever present at the Entrepreneur–in–residence drop-in clinics, which take place every Thursday.
John Korchak, director of operations at Inform Direct said: “Reporting a record year – the second in a row – for new company formations in Merseyside 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.”
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