Lancashire holding steady at 10th place in the company formation league table with 13,312 new businesses formed in 2022.

The county of Lancashire boasts a respectable 4.5% yearly growth, marginally below the national growth rate of 4.6%. Combining this with the fact that 25% more companies were formed than were closed throughout the year it is somewhat surprising that when adjusting these statistics to the population, at the end of 2022 there were only 62.6 companies per 1000 people, below the national average of 82.7. However, with large cities such as Manchester – a hot spot for new company formations – only a stone’s throw away this may not be overly surprising.

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