Last year saw an increase of new businesses starting up in Lincolnshire

John Korchak
John Korchak

Last year more than 6,000 new businesses were registered in Lincolnshire.

Despite political and economic uncertainty during the year, 6,042 new companies were registered in the county compared to 5,910 during 2018, representing an increase of 2.2 per cent.

This brings the total number of registered companies in Lincolnshire to 45,109, up from 43,713 at the end of 2018, which equates to 3.2 per cent growth.

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

North East Lincolnshire formed the highest number of new businesses with 1,015, followed by North Lincolnshire with 1,007 and South Kesteven with 836.

John Korchak, director of operations at Inform Direct, said: “It is a significant achievement that Lincolnshire has seen an increase in the number of new company formations during 2019, compared to the previous 12 months.

“This is against a backdrop of political and economic uncertainty which has presented considerable challenges to businesses across a number of sectors.

“With Brexit uncertainty casting a shadow, and some companies experiencing falling sales or choosing to relocate internationally, it is heartening that we are seeing signs of business optimism with so many new companies being created.

“This picture is mirrored nationally with an all-time high of nearly 700,000 new businesses formed in the UK as a whole.”

Alongside this record number of formations, 690,763 compared to 669,855 in 2018, the overall number of UK companies also continued to grow, with a new high of 4,471,008, a 3.8 per cent increase on the total of 4,308,022 at the end of 2018.

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

Inform Direct is a company secretarial and formation specialist. Its award-winning company secretarial and formations software currently supports more than 150,000 UK companies. Inform Direct officially launched in the middle of 2013.