Northern Ireland achieves 10% growth in company numbers in just one year

Company formation figures for Northern Ireland are impressive for 2023, with 13,704 new businesses formed in 2023. This represents a huge rise of 60% over 2022’s figure of 8,575 and allowed Northern Ireland to end 2023 10.1% more companies in total than at the same time in 2022, with a total of 85,228.

Belfast clearly had a lot to do with these strong figures. It registered 5,222 companies in 2023, a 25% increase on its 2022 figure. Next in the company formations table came Newry, Mourne and Down with 1,168 new companies formed, Armagh, Banbridge and Craigavon with 1,088, Lisburn and Castlereagh with 941 and Derry and Strabane with 873.

Our infographic of 2023 company incorporation activity in Northern Ireland 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’d like to start a new company in Northern Ireland, you’ll find our simple online company registration service helpful.