Record year for new companies in Northumberland

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New figures show that more new businesses were established in Northumberland during 2017 than in any previous year – in contrast to the national trend which saw an overall reduction in new company formations.

In terms of new companies, 1,360 were registered in the county compared to 1,302 in 2016.

During 2017, Northumberland also passed a significant milestone with more than 10,000 companies now based in the county – finishing the year with 10,100, up from 9,713 at the end of 2016, which equates to four per cent growth.

The statistics come from the Inform Direct Review of UK Company Formations using data from Companies House and the Office for National Statistics.

John Korchak, director of operations at Inform Direct, said: “These record figures for new company formations during 2017 show that Northumberland continues to be a particularly fertile ground for entrepreneurs and new business ventures.

“The results buck the national trend which saw an overall reduction in the number of new company formations compared to 2016.”

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