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Record Numbers of New Companies Registered

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Record Numbers of New Companies Registered

I attended a Companies House meeting last week, a regular event for me, and they do like to cross of the highlights right at the start. They make for some quite amazing reading though;

Year to date the number of new companies being incorporated in the UK is up 7%, and more so that is up on an already previous record. Last year they was up 6.5% by the end of March 2012 with 426,500 new companies incorporated in that financial year. At the time of releasing this information their February figures were showing between 40-41,000 new companies would be registered in that month!

Also in February their register at Companies House broke through the 3million active companies number, yet another record. Out of those 3 million companies they state that 2.8 million are active, but it is worth noting that this doesn’t mean all 2.8 million companies are up and trading. By “active” they mean the company has active filings which can include dormant filings, but it does mean that there is someone behind the company looking after it for a purpose.

These figures are quite staggering, so much so that the government department BIS has decided to conduct an investigation into why the numbers are growing so. I’m personally very interested to see the findings when they are published and not just because I own a company formation agent; more that I’m not entirely convinced it’s all going to be new entrepreneurs kick starting the economy as the press releases would imply.