Company formation activity in Northern Ireland during 2022 unable to maintain the precedent set in 2021.

With 8,575 new businesses formed during 2022 in Northern Ireland – 8.3% less than the preceding year – the country sees its annual growth fall from 5.5% in 2021 to 4.6% in 2022, continuing the downward trend of the last few years.

That said, it was not all bad news. In line with the wider picture across the UK, the number of dissolutions also fell from 5,666 to 5,320, or 7.7%.

Unsurprisingly Belfast accounts for 2,325 of the new incorporations, substantially above the second highest area Newry, Mourne & Down with 966.

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