Growth in Wales during 2021 sees lowest increase in over 10 years as number of businesses closing down reaches record highs.

The number of businesses registered in Wales during 2021 increased from 135,011 to 140,077 – a record high. This, however, equates to a growth rate of 3.8% which is the lowest recorded rate in the country for over 10 years.

With the number of dissolutions in Wales during 2021 being almost on par with the number of new businesses being formed throughout the year this is not overly surprising.

Cardiff incorporated the majority of the 21,386 new businesses at 5,259, just shy of 25%.

Our infographic below tells some of the important stories behind those who took the step in 2021 to form a company in Wales It offers a visual breakdown of where companies are formed and compares the 2021 performance across Wales both with previous years and other nations of the UK.

Want to form a new company in Wales? Take a look at our online company formation service to form your company the easy way.