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County is a ‘fertile ground’ for business

John Korchak, of Inform Direct
John Korchak, of Inform Direct

Thousands of new businesses were formed in Suffolk last year, according to latest figures.

A total of 4,145 companies were formed in the county in 2017, bringing the number of registered companies up to 33,994 – a 4.5 per cent increase from 2016.

The statistics, from the Inform Direct Review of UK Company Formations using data from Companies House and the Office for National Statistics, also show that 2,936 businesses were dissolved during 2017.

John Korchak, Inform Direct director of operations, said: “These figures for new company formations during 2017 show that Suffolk continues to be a fertile ground for entrepreneurs and new business ventures.

“Although a successful year, there was a fall in the number of new businesses established in 2017 compared to the previous year – 4,145 versus 4,291 in 2016 – which mirrors the national trend. This slowdown could be attributed, at least in part, to ongoing political uncertainty and concern in the business community over the impact of Brexit.”

In St Edmundsbury 659 businesses were formed, 630 in Mid Suffolk, 336 in Forest Heath and 462 in Babergh.

In Norfolk, 4,399 businesses were formed in 2017 – a 6.1 per cent increase on 2016 – with 607 formed in Breckland. Meanwhile, 3,332 businesses were dissolved in the county in 2017.

For a full report, go to www.informdirect.co.uk/company-formations-2017/suffolk/

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