Hertfordshire sees growth in new businesses despite economic uncertainty

PUBLISHED: 08:30 22 February 2020

Hertfordshire saw growth in new businesses in 2019 despite economic uncertainty. Picture: Pexels.

Hertfordshire saw growth in new businesses in 2019 despite economic uncertainty. Picture: Pexels.

Archant

Hertfordshire saw an increase in new businesses in 2019, despite a background of political and economic uncertainty.

Data from Companies House and the Office for National Statistics shows registered companies in Herts grew to 113,106, up from 111,063 at the end of 2018 - equating to 1.8 per cent growth.

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However, growth in the county slowed. In 2019, 15,231 new companies were formed, compared to 15,554 in 2018 - a 2.1 per cent fall.

St Albans formed 2,126 new businesses in 2019, Welwyn Hatfield 1,219, North Herts 1,091 and Stevenage 847. A total of 12,403 were dissolved and 785 moved out of Herts.

John Korchak, director of operations at Inform Direct - a software specialists that compiled the statistics - said: "With the last 12 months presenting a very challenging environment for businesses - in terms of political and economic uncertainty - it is not surprising Hertfordshire has experienced a fall in new businesses compared to 2018."

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