Thousands of firms created in Northamptonshire

Northamptonshire has smashed the record for the number of new businesses launched in the area in a single year, according to new research

Northamptonshire has smashed the record for the number of new businesses launched in the area in a single year, according to new research

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Northamptonshire has smashed the record for the number of new businesses launched in the area in a single year, according to new research.

And the county has seen a greater percentage business growth than places such as London and Manchester.

Statistics compiled by www.informdirect.co.uk have revealed that there were 6,246 companies formed in 2014, up from a previous best of 5,791.

This brings the total number of businesses operating in the county to a high of 36,234.

Henry Catchpole, chief executive officer of Inform Direct, said: “This is clearly an area where fledgling firms are flourishing and where people are starting to make their dreams a reality in the word of business.”

Alongside the record numbers of new companies, the research also shows that companies formed in Northamptonshire have a better chance of staying in business.

Mr Catchpole said: “The ratio of companies formed in 2014 to those dissolved is the second best in the whole of England – beating London and Manchester and only slightly behind leader Nottinghamshire.”

The number of companies based in Northamptonshire increased nearly nine per cent on last year and over five years the company population has increased by a massive 40 per cent.

In London - the most prolific area for start-ups - there was only an 8.3 per cent growth in companies between 2013 and 2014.

Mr Catchpole said: “There is lots of support out there for fledgling businesses but in Northampton in particular the stats show that this support is translating into impressive business growth.”

Last year there were 2,499 new companies launched in Northampton, followed by Daventry with 717, South Northamptonshire with 663, Wellingborough with 654 and Kettering with 635.

In the UK as a whole, 586,784 new businesses were registered with Companies House taking the total number to a record high of 3,509,084.