"Ambition, creativity and resilience": Why East Riding had a record high amount of new businesses start up in 2022

A grand total of 4,233 new companies were registered, which is an increase of 12.9% on 2021 figures.

This has resulted in a record high of 29,451 businesses in the county.

The statistics are taken from the Inform Direct Review of Company Formations, using data from Companies House and the Office for National Statistics.

John Korchak, Managing Director at Inform Direct said: “It is great news to see that the East Riding of Yorkshire can celebrate a successful year for new company formations.

“The last few years have been turbulent for businesses, with inflation and a cautious economic outlook following the impact of the pandemic.

However, in these figures we see evidence of the ambition, creativity and resilience of entrepreneurs in the East Riding of Yorkshire, as well as the benefits from the county’s support for a range of enterprises.

“This positivity is mirrored in the overall picture for the UK which saw a record number of new companies established during 2022, exceeding 800,000 for the very first time.”

Across the UK 805,141 new companies were registered, which is a 4.3% increase on figures from 2021, and brings the total number of companies to 5,236,227.

Dissolutions of UK companies totalled 578,679, showing a welcome decrease in numbers from 2021.

This suggests that new and existing businesses are adapting to survive in a post-pandemic business environment.

To see a more detailed picture of company formations in the East Riding of Yorkshire visit:

https://www.informdirect.co.uk/company-formations-2022/east-riding-yorkshire/

To see the report in full, visit:

https://www.informdirect.co.uk/company-formations-2022/