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Lincolnshire proving a great place to start a business

John Korchak
John Korchak

Figures just published show that 5,414 new companies were formed in Lincolnshire during 2017 – demonstrating that the county provides a supportive environment for new business ventures.

This brings the total number of registered companies in Lincolnshire to 41,976, up from 40,701 at the end of 2016, which equates to 3.1 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.

North East Lincolnshire formed the most new businesses (848), followed by South Kesteven (832) and North Lincolnshire (807).

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

“Although a successful year, there was a fall in the number of new businesses established in 2017, compared to the previous year – 5,414 versus 5,698 in 2016 – which mirrors the national trend. This slowdown could be attributed, at least in part, to ongoing political uncertainty and concern in the business community over the impact of Brexit.”

Across the UK as a whole, there was a reduction in the number of new company formations – 634,116 compared with 664,720 at the end of 2016.

However, the number of registered companies in the UK continued to grow, passing the 4,000,00w0 milestone during 2017 and finishing the year with a total of 4,120,349.

To see a more detailed picture of company formations in Lincolnshire – including a full local breakdown, visit: www.informdirect.co.uk/company-formations-2017/lincolnshire/

Of the 569,585 formations in England, 205,527 were in London. 34,002 companies were formed in Scotland, 17,408 in Wales and 7,398 in Northern Ireland.


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