Sunday, June 7, 2020

New business continues to grow in Lincolnshire

New figures just out show that the number of companies based in Lincolnshire continues to grow apace – bringing the total number of companies in the county to more than 40,000 for the first time.

The total number of registered companies in Lincolnshire now totals 40,701, up from 39,944 at the end of 2015, which equates to 1.9 percent growth. During 2016, 5,698 new companies were established.

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

The district of North East Lincolnshire formed the most new businesses (927), followed by North Lincolnshire (900) and South Kesteven (852).

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.

“Lincolnshire 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.

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