Lancashire Moves Up The Ranks for Business Start Ups

LANCASHIRE MAKES IT IN TO THE TOP TEN PLACES IN THE UK FOR NEW COMPANY FORMATIONS – AND PRESTON TOPS THE COUNTY LIST

More than 12,600 new businesses were started in Lancashire, during 2020, putting Lancashire in the top ten places, nationwide, for new company formations.

Research produced by Inform Direct shows that the number had increased on 2019’s figures, despite the pandemic.

Preston led the way, with the more company formations here, than anywhere else in the county.

98% of the companies formed were private limited companies with 2% coming from other structures, such as PLCs, LLPs, and CICs.

There are now almost 84,000 registered businesses in the county, according to the report, a year-on-year increase of 7.4%.

Babs Murphy CEO of the NWL Chamber said: “While the exact implications of COVID-19 on business and the economy at large is still uncertain, Lancashire’s innovative and entrepreneurial spirit endures.

“It’s a tough task to start a venture in today’s competitive market and its pleasing to see Lancashire, and in particular Preston, are major hubs for entrepreneurs to do business.

“The Chamber plays an important role in creating start-up businesses by delivering the right policy incentives and business environment, both of which are critical in helping start-up communities grow and thrive.”

Mark Whittle of Preston BID said: “Preston is a great place to live, invest, work and visit. 

“2020 was a challenging year and we are yet to see the full effects of the pandemic.

“However, it’s with welcome optimism that we see Preston being the leading place to invest in a new enterprise, in the county – and for businesses considering their growth plans, there’s no better place than the city centre.”

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