Record company closures stifle business growth in Gloucestershire

The total number of companies based in Gloucestershire continued to grow in 2022, but for the second year in a row, it did so at the slowest rate for at least a decade. Entrepreneurial enthusiasm was still very much in evidence, with an impressive 6,373 new companies formed in Gloucestershire in 2022. However, this success was largely offset once again by a record number of businesses ceasing to trade, with 5,441 companies closing their doors during the year. By the end of 2022 57,852 companies were based in Gloucestershire.

Despite difficult trading conditions the appetite to create new business opportunities was evident across the whole county. 1,900 new companies were created in the South Gloucestershire region, with 918 formations in Gloucester itself and a further 1,057 in Cheltenham.

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