Entrepreneurs in Hertfordshire shrug off uncertainty with rise in creation of new companies

John Korchak, operations director of Inform Direct.
John Korchak, operations director of Inform Direct.

Entrepreneurs in Hertfordshire are shrugging off Brexit with a surge in the creation of new companies.

New figures show 15,554 new companies were registered in the county compared to 13,752 in 2017 - a rise of 13.1 per cent.

It means the total number of registered companies in Hertfordshire is 111,063, up from 105,506 at the end of 2017 - a growth of 5.3 per cent.

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

East Hertfordshire formed the most new businesses (2,950), followed by Dacorum (2,386) and Hertsmere (2,000).

John Korchak, director of operations at Inform Direct said: “These figures demonstrate strong growth for new company formations in Hertfordshire.

“It presents a very positive picture for business against a background of political and economic uncertainty and shows that the county continues to provide a supportive environment, both for new business ventures and existing enterprises.

“This achievement is replicated in a number of counties and in the UK as a whole which has seen a new record total of registered companies.”

Across the UK as a whole, a record number of new companies were formed – 669,855 compared with 634,116 in 2017.