More than 80,000 new North West businesses in 2023

By Beever and Struthers

29 Jan 2024

Fran Henshaw Jacket.jpg.jpg

More than 80,000 start-ups were launched in the North West in 2023, according to new research from R3, the UK’s insolvency and restructuring trade body.

R3’s analysis of data provided by Creditsafe shows 80,404 firms were set-up in the North West in 2023 – a rise of 7.7 per cent from 2022’s total of 74,658.

North West start-up numbers were at their highest in March 2023 in the North West, when 7,390 new firms were set up.

The North West had the third highest total number of start-ups in 2023 of all the UK’s regions and nations, behind Greater London (293,060) and East Anglia (93,470).

Fran Henshaw, chair of R3 in the North West, says: “Amidst tough economic challenges like high inflation, persistently higher interest rates, and supply chain issues, tens of thousands of entrepreneurs in the North West embraced the opportunity to launch new businesses last year.

"Many of these new ventures are micro and small businesses, owned and run by local people, and will play a crucial role in supporting the growth of the North West economy in the year ahead." Fran, who is head of corporate recovery and Insolvency at Beever and Struthers, continues: “However, setting up a new business is just the first step – directors need to stay alert to any signs of financial distress and act accordingly should they arise.

“Problems paying the bills or staff on time, stock levels piling up and falling revenue are all early indicators a business could be in trouble, and at this point it's essential to seek advice from a qualified source, whether you’re running a start-up or a more established business...

“Many R3 members in the North West are happy to provide a free initial consultation to learn more about your concerns and help you understand the options you have for resolving them.”

Latest news

1

Wain Homes agrees partnership to complete development site in Blackburn Wain Homes site

Wain Homes agrees partnership to complete development site in Blackburn

27 Jan 2025

2

Panthera celebrate 5th anniversary at clinical research clinic

Panthera celebrate 5th anniversary at clinical research clinic

27 Jan 2025

3

Barnfield Construction transitions to an Employee-Owned Business Staff Cheer Photo.jpg.jpg

Barnfield Construction transitions to an Employee-Owned Business

24 Jan 2025

4

Wallsauce looks to grow B2B customer base with increased trade focus Martin Emmott Rosebud and Andy Gerraty Wallsauce

Wallsauce looks to grow B2B customer base with increased trade focus

24 Jan 2025

5

CBP goes into administration Community and Business Partners in Blackburn with doors shut

CBP goes into administration

23 Jan 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
The Lancashire Festival of Business
FOB 315
Exhibitions
30 Jan 2025

The Lancashire Festival of Business

Impact Conferencing, Burnley, BB12 6QP

09:30 - 16:00

Skills Bootcamp in Procurement - Cohort 3
Blue-Modern-Land-Travel-Youtube-Thumbnail-2-1024x576.png.png
LBV Hub Awards
14 Jan 2025 - 18 Mar 2025

Skills Bootcamp in Procurement - Cohort 3

Community & Business Partners CIC, Blackburn, BB2 3UA

09:30 - 13:00

The Marketing Meetup IRL: Lancashire
LBV Hub Event Image.png.png
LBV Hub Networking
30 Jan 2025 - 30 Jan 2025

The Marketing Meetup IRL: Lancashire

Strawberry Fields Digital Hub, Chorley, PR7 1PS

18:00 - 20:00

Police Apprenticeship event
Student Centre Autumn 2022.jpg.jpg
LBV Hub Social
12 Feb 2025 - 12 Jan 2025

Police Apprenticeship event

University of Central Lancashire, Foster Social Space , Preston , PR1 2HE

16:00 - 19:00

February Preston Tech Connection Meet-Up: Tech & Our Planet
PRESTON TECH CONNECTION jan.ai.png.png
LBV Hub Networking
12 Feb 2025 - 12 Feb 2025

February Preston Tech Connection Meet-Up: Tech & Our Planet

Society1 Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Amber River True Bearing Quarterly Investment Seminar
LBV Hub Seminars
13 Feb 2025

Amber River True Bearing Quarterly Investment Seminar

Mercure Blackburn Dunkenhalgh Hotel & Spa, Blackburn Rd, Clayton-le-Moors, Blackburn, Lancashire, BB5 5JP

16:00 - 18:00

The Business Network Central & East Lancashire
LBV Hub Networking
13 Feb 2025 - 13 Feb 2025

The Business Network Central & East Lancashire

Mytton Fold, Langho, BB6 8AB

11:30 - 14:15

National Apprenticeship Week 2025 Celebration - Business Breakfast Showcase
Student Centre Autumn 2022.jpg.jpg
LBV Hub Networking
14 Feb 2025 - 14 Jan 2025

National Apprenticeship Week 2025 Celebration - Business Breakfast Showcase

Media Factory , Preston, PR1 2HE

08:00 - 10:00

Sub36 Networking - Behind the beans
Sub36 Social1200Atkinsons New
Networking
14 Feb 2025

Sub36 Networking - Behind the beans

Atkinsons Speciality Coffee, Lancaster, LA1 1 EX

09:00 - 11:30

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Employment Law, Tax and Payroll Update - East Lancashire
Employment updates - LinkedIn East Lancs-01.png.png
LBV Hub Seminars
26 Feb 2025 - 26 Feb 2025

Employment Law, Tax and Payroll Update - East Lancashire

Accrington Stanley Football Club, Accrington, BB5 5BX

08:00 - 10:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV120 Online Graphic 1
Subscribe now

Weekly news bulletin