A drop in new company incorporations in West Sussex during 2022 stunts overall growth in the county.

Whilst West Sussex saw a substantial 6,136 new business formed in 2022, disappointingly this was actually a decrease on 2021 which saw 6,463 new businesses opening. This amounts to a modest growth rate of just 2% – somewhat below the UK average of 4.6%.

That said, it isn’t all bad news – with the number of businesses that ceased trading in the county sitting at 5,240, this follows the national trend falling by 5.4% on 2021 meaning that the total number of companies registered in West Sussex grew to a record high 58,763.

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