7,623 companies formed
771,617 companies formed in the UK in total View national statistics
Record numbers of dissolutions in Tyne and Wear during 2021 stunts overall growth which hits a 10 year low.
With a 43.6% increase on companies closing shop during 2021 than in 2020 and a decrease of 3.1% on new incorporations it is no surprise that Tyne and Wear was unable to compete with the impressive levels of growth shown in the preceding year.
That said, despite all the struggles businesses were faced with in 2021, the positive numbers speak for themselves: 7,623 new companies were formed in Tyne and Wear which earns the county a respectable 20th position on the new company formation league table – above all 4 surrounding counties and an overall growth rate of 3.1%.
Take a look at our infographic which examines company start-up activity in Tyne and Wear 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 Tyne and Wear, you’ll find our simple company registration service helpful.