There was a record number of new company formations across Liverpool city region in 2023 – up 7% on last year and taking the total to more than 91,000. Tony McDonough reports
New data shows there were a record 15,150 new businesses formed in Liverpool city region in 2023 – 7% higher than the 14,164 founded in 2022.
This takes the total number of registered businesses in Liverpool, Wirral, Sefton, Knowsley, St Helens and Halton above 91,000.
Figures for this survey are compiled each year by business consultancy Inform Direct using information from both Companies House and the Office for National Statistics.
Liverpool saw the highest number of new businesses formed – 6,818. It was followed by Sefton with 2,708 new ventures, Wirral with 2,530, St Helens which saw 1,272, Knowsley 967 and Halton with 843.
Entrepreneurs in the city region are continuing to launch new businesses despite the strong economic headwinds. In January LBN reported the number of distressed businesses in the region had risen above 5,000 in the final quarter of 2023.
Across the UK there were 900,006 new companies formed in 2023, compared to 805,141 in 2022. This represents an increase of 11.8%. It brings the total number of UK companies to a record 5.48m.
Dissolutions of UK companies totalled 662,915, an increase on the 578,679 companies dissolved in 2022. More than 12,000 businesses were dissolved in Merseyside during 2023.
John Korchak, managing director at Inform Direct, said: “It is excellent news that Merseyside can celebrate a record year for new company formations during 2023.
“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.
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However, the formation figures demonstrate very clearly that Merseyside 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. The total number of UK formations exceeded 900,000 for the very first time.”