The number of new company incorporations in the West Midlands sets new record.

2022 brought a new record in the number of new startup companies in the West Midlands. The 39,355 new companies started in the year eclipsed the previous highest annual figure of 37,202 which was set in 2020. The total number of companies now based in the West Midlands stands at an all time high of 211,766.

After a disappointing 2021 this is good news for the county as it boasts a 6.5% overall growth rate meaning the West Midlands maintains position 3 on the total number of registered companies – only outperformed by London and Greater Manchester with 4th spot over 60,000 companies behind.

There were great performances across the West Midlands however perhaps unsurprisingly Birmingham accounted for the majority of the new companies at 18,128.

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