Company formations 
hit high across region

John Korchak, director of operations at Inform Direct.
John Korchak, director of operations at Inform Direct.

The number of companies based in North Yorkshire continues to grow apace, new figures show.

Companies registered in North Yorkshire now total 48,164 – up from 46,660 at the end of 2015 – which equates to 3.2 per cent growth.

During 2016, 6,525 new companies were established, compared with 6,437 in 2015.

The statistics come from the Review of UK Company Formations compiled by company formation specialist Inform Direct using data from Companies House and the Office of National Statistics.

There were 1,078 new businesses formed in the Harrogate District – a rate of about three a day.

That was also about the same number as in Craven, Hambleton and Richmondshire combined. Within North Yorkshire, only York formed more – 1,249 – followed by Middlesbrough, with 1,007.

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.

“North Yorkshire 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.”

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.