Berkshire hits record high for company start-ups in 2023

Berkshire hit a record high for company start-ups last year, according to new figures, despite the economic backdrop.

According to the Inform Direct Review of Company Formations, which used data from Companies House and the ONS, a total of 10,571 new formations were registered in the county in the last 12 months - an increase of 10.4% on 2022.

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The number of registered companies in Berkshire is now at an all-time high of 78,581. Across the UK as a whole, there was also a record high with the total number of formations exceeding 900,000 for the first time.

That brings the total number of UK companies to a record 5,476,772.

"It is excellent news that Berkshire can celebrate a record year for new company formations during 2023," said John Korchak, managing director at Inform Direct.

"The year undoubtedly presented a range of challenges for business including tepid predictions of economic growth, volatility in energy prices and uncertainty from world events.

"However, the formation figures demonstrate very clearly that Berkshire entrepreneurs remained undeterred and pursued their ambitions to establish new ventures.

“This positive picture is mirrored in the overall position for the UK which saw the highest ever number of new companies established during 2023," he added.

Looking at Berkshire's districts, Slough saw the highest number of new businesses in 2023 at 3,015, followed by Reading at 1,925 and Windsor and Maidenhead with 1,913.

Wokingham saw 1,648 new formations, West Berkshire saw 1,167, and Bracknell Forest had 875 start-ups.

Dissolutions of UK companies last year totalled 662,915 - an increase on the figure of 578,679 in 2022.

To see a more detailed picture of company formations in Berkshire, click HERE. For the full report, people are asked to visit HERE.

Inform Direct is a company secretarial and formation specialist.