Durham breaks its own company formations record in 2023

Durham has seen strong growth in company numbers over the last five years, with an average of 5.3% more companies than the previous year being the norm for the county. 2023 was exactly on that average, but more companies were formed per 1,000 people than in 2021 or 2022. This nudged Durham into record territory for both total companies and company formations in one year. Durham now has 37,332 companies and 2023 saw 5,696 new companies formed.

Durham businesspeople can be proud of this performance, which showed staying power in the face of a tricky business environment caused by rising inflation, high costs and consumer uncertainty.

Our infographic of 2023 company incorporation activity in Durham gives further details about companies formed in the county during the year and how it compares with the performance of other counties in England.

If you’re looking to set up a company in Durham, check out our straightforward company incorporation service.