Business growth in Hampshire hindered by a significant number of company dissolutions for a second year

Whilst the total number of companies based in Hampshire continued to increase in 2022, it did so at the slowest rate for at least a decade. The lacklustre performance was not the result of an absence of entrepreneurial spirit. Indeed, an encouraging 14,533 new business ventures were spawned in Hampshire in 2022. However, the impact of ongoing difficult trading conditions meant that the number of businesses dissolved in Hampshire over the course of the year totalled 12,517 accounting to a disappointing growth rate of just 0.5%.

Nevertheless, the desire to create new business opportunities was evident across the whole county. The top performing boroughs were Southampton, Portsmouth and East Hampshire. They produced strong new company formation figures – creating 2,274, 1,880 and 1,588 new companies each in 2022.

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