Number of new businesses in Northamptonshire reached record high in 2021, according to figures

The motor trades and transport sector saw the largest number of new companies

By Carly Odell
Tuesday, 1st February 2022, 10:48 am

Latest figures show that the number of businesses in Northamptonshire reached a record high during 2021 – despite the continuing economic challenges resulting from the pandemic.

The total number of registered companies in Northamptonshire rose to 53,149, up from 52,017 at the end of 2020, representing an increase of 2.2 percent.

During the year 7,131 new businesses were registered in the county, according to data from Companies House and the Office for National Statistics.

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Northampton saw the most new businesses in the county.

Northampton formed the highest number of new businesses with 2,840, followed by South Northamptonshire with 811 and Wellingborough with 784.

Kettering saw an increase of 747, Corby 717 and Daventry 611.

John Korchak, operations director at Inform Direct, the company behind the study, said: “It is excellent news to see that Northamptonshire has achieved a record high for the number of businesses in the county despite the continuing challenges of the pandemic.

“The motor trades and transport sector saw the largest number of new companies (1,156), which may be the result of pent-up demand after the lockdowns of 2020 and early 2021.

“This was followed by construction with 928 new incorporations.

“Reaching a new record number of companies demonstrates an active economy with entrepreneurs motivated to invest in new businesses which meet current and emerging demands for goods or services.

“The overall picture for the UK as a whole is also an optimistic one with the total number of companies now exceeding five million for the very first time.”

The UK saw 771,617 new businesses formed, compared to 780,760 in 2020.

The overall number of UK companies totalled 5,005,147, a 3.5 percent increase on the total of 4,837,426 at the end of 2020.

Whilst company formations grew, the number of dissolutions across the UK – 606,912 during 2021 – hit a record high.