Entrepreneurial Lancashire launches record number of businesses

Lancashire has smashed the record for the number of new businesses launched in the area in a single year, according to new research.

This brings the total number of businesses operating in the region to a high of 60,973.

Henry Catchpole, CEO of Inform Direct, said: “This is clearly an area where fledgling firms are flourishing and where people are starting to make their dreams a reality in the word of business.”

Last year in the UK as a whole, 586,784 new businesses were registered with Companies House taking the total number to a record high of 3,509,084. Private limited companies made up over 95% of all formations.

Mr Catchpole suggests that there are three complementary factors fueling this growth.

Secondly, many companies can successfully operate from home and need little more than a website before they can start trading.

Crowdfunding is a good example of this, making it easier for new companies to get early stage backing and therefore encouraging would-be entrepreneurs to give it a go. In bringing together data available from Companies House and the Office of National Statistics, Inform Direct has built up a truly unique picture of how many businesses are now operating across the UK.