Business growth slows in 'challenging' 2019

Statistics published by Inform Direct show that the number of companies registered in Lancashire increased throughout 2019, though at a slower rate than in previous years.

The total number of registered companies in the county grew to 77,937, up from 75,763 at the end of 2018 - which equates to 2.9 per cent growth.

However, the rate of growth reduced compared with 2018. Over the last 12 months, 11,229 new companies were registered, slightly lower than the 11,291 during 2018.

Preston formed the most new businesses at 1,420, followed by Blackburn with Darwen with 1,338 and Fylde with 1,138.

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

John Korchak, director of operations at Inform Direct said: "With the last 12 months presenting a very challenging environment for businesses – in terms of political and economic uncertainty – it is not surprising that some counties, including Lancashire, have experienced a fall in the number of new businesses being established compared to 2018.

The last 12 months presented a very challenging environment for businesses

"However, this picture is not replicated throughout the UK. Some counties have seen a record year for new company formations and the UK as a whole has experienced an all-time high of nearly 700,000 new businesses being established over the year.”

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