Figures show Tyne and Wear's consistent trend of business growth

Latest figures have revealed that Tyne and Wear is home to more than 50,000 companies for the first time highlighting its popularity as a place to do business.

There are now 50,696 businesses registered in the county according to company secretarial software specialists Inform Direct, based on statistics from Companies House and the Office for National Statistics.

This latest milestone follows a consistent trend of business growth, with the number of registered companies in Tyne and Wear increasing over 25 per cent in the last five years.

John Korchak, operations director at Inform Direct said: “It is excellent news to see that Tyne and Wear has achieved this important milestone. This underlines its success in providing a supportive environment for new business ventures resulting in an active economy.”

Tyne and Wear is home to businesses across a range of sectors, including digital and technology, energy, life sciences, automotive and advanced manufacturing, and financial, professional and business services.

The county offers a number of benefits to companies choosing to locate there including a growing and successful business base, skilled workforce, cost-effective operating costs, good connections by air, sea, road and rail and the opportunity for an excellent work/life balance.

By Mark Adair – Correspondent, Bdaily

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