Gloucestershire had a record year for business in 2022, with more companies registered in the county than ever before.
New figures from the Inform Direct Review of Company Formations, which uses data from Companies House and the ONS, show 6,373 new companies formed in Gloucestershire in 2022, taking the total number of county businesses to 57,852, breaking the record previously set in 2021.
Cheltenham was home to 1,057 new businesses, with 918 in Gloucester, 696 in the Cotswolds, 692 in Stroud, 629 in Tewkesbury and 467 in the Forest of Dean, showing confidence across the county.
The data places Gloucestershire 31st in the country for the number of companies formed in 2022, with London, the West Midlands and Greater Manchester making up the top three. Gloucestershire also outperformed all of its neighbouring counties except Somerset.
The total number of dissolutions also increased from 5,435 in 2021 to 5,441 in 2022, however there were 932 more businesses formed than dissolved - an increase of 10 compared to the previous year.
Inform Direct's managing director, John Korchak, said: 'It is great news to see that Gloucestershire can celebrate a successful year for new company formations.
'The last few years have been turbulent for businesses, with inflation and a cautious economic outlook following the impact of the pandemic. However, in these figures we see evidence of the ambition, creativity and resilience of entrepreneurs in Gloucestershire, as well as the benefits from the county’s support for a range of enterprises.
'This positivity is mirrored in the overall picture for the UK, which saw a record number of new companies established during 2022, exceeding 800,000 for the very first time.'