Wales shows strong growth in company formations in 2023

Company formations in Wales rose by 23% in 2023, bringing the total number of registered companies in the country to 163,948.

Of Wales’s regions, Cardiff showed the strongest growth year on year with 10,483 new businesses formed versus 7,210 in 2022. Next came Swansea with 1,930, Newport with 1,387, Rhondda Cynon Taf with 1,353 and Pembrokeshire with 1,103.

Our infographic of 2023 company incorporation activity in Wales 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 Wales, you’ll find our simple online company registration service helpful.