18,079 companies formed

UK  669,855 companies formed in the UK in total View national statistics

Company formation in Wales gathers pace – but caution on performance of existing businesses

Company formation in Wales reached a record level in 2018, with the 18,079 new companies started breaching the previous record of 17,408 set in 2017. Overall, the number of companies based in Wales also reached a new record, in part also fuelled by net migration of existing businesses from other parts of the UK, with 120,705 incorporated entities based in Wales at the end of 2018.

The number of existing companies being dissolved in Wales was a cause for concern. The 17,908 Welsh companies which reached the end of their life in 2018 easily surpassed the 13,545 in 2017, also meaning there were almost as many companies dissolved in Wales during the year as were newly formed.

Our infographic below highlights some of the key facts about the trend to form a company in Wales. It gives a visual breakdown of where companies are formed, and compares the 2018 performance in Wales both with previous years and other parts of the UK.

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