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More startups registered in Northumberland in 2016 than any previous year

Recent statistics from the Inform Direct Review of UK Company Formations have revealed that more new businesses were registered in Northumberland during 2016 than in any previous year.

The study, which uses data from Companies House and the Office of National Statistics, found that 1,302 new firms were registered in the county outstretching the previous year’s total of 1,289.

The number of registered companies in Northumberland now totals 9,713, up from 9,370 at the end of 2015, which equates to 3.7% growth.

The national picture

Across the UK as a whole, there were a record-breaking 664,720 companies formed – up from 612,565 in 2015. The number of UK companies now stands at 3,962,909.

Of the 601,418 formations in England, 209,869 were in London. 35,502 companies were formed in Scotland, 15,795 in Wales and 7,389 in Northern Ireland.

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.

“Northumberland 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.”

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