2,858 companies formed
771,617 companies formed in the UK in total View national statistics
Despite record numbers of dissolutions in Herefordshire, the county shows monumental growth.
With 2,858 new companies formed in Herefordshire during 2021, this may at first glance seem low in comparison to other counties. However, when considering that this is an impressive 15.6 new incorporations in 2021 per 1000 people, it paints a slightly different picture giving the national average of 12.2. This feat is further substantiated by a notable annual growth of 15.9%. which is vastly above the national growth rate of 3.5%.
It was not all good news unfortunately. Across the UK there was a rise on 2020 dissolutions of 45% in the number of existing businesses that ceased trading during the year. However, Herefordshire saw an increase of 72.8%. That said, with an incredibly substantial 5-year growth of 58.6% – significantly exceeding the UK average growth rate of 26.3% – it cannot be argued that entrepreneurial spirit in the county is lacklustre.
Take a look at our infographic which examines company start-up activity in Herefordshire in 2021. As well as summarising the area, our analysis breaks down performance by borough and even looks at individual wards.
If you want to register a company in Herefordshire, you’ll find our simple company registration service helpful.