13,899 companies formed
771,617 companies formed in the UK in total View national statistics
Very slow company growth in Hertfordshire throughout 2021 reflects the challenges of a second pandemic year.
New company formations in Hertfordshire in 2021 were at their lowest since 2017. The number of companies dissolved almost exceeded the number of new companies formed, sitting at 13,874 and 13,899 respectively, equating to an underwhelming 0.9% growth since 2020.
Despite this, Hertfordshire saw only a 38.4% increase on 2020 in the number of existing businesses that ceased trading, below the national figure of 45%.
So, it seems that it is not the seemingly significant number of dissolutions at the heart of the stunted growth in Hertfordshire but instead a lack of new company incorporations falling by 3.9% since 2020. Still, with an incredibly impressive 106.1 companies per 1000 people in the county, perhaps 2022 will see better things to come.
Take a look at our infographic which examines company start-up activity in Hertfordshire 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 Hertfordshire, you’ll find our simple company registration service helpful.