Business is booming in Lincolnshire new figures show

There were 5,879 new companies formed in the county in 2015 - bringing the total number to 39,944.

This is up 5.1% on 2014 where there were a total of 37,990 firms at the end of the year.

However, in terms of the number of companies formed in a single year, 2014 still holds the record with 6,262 registered.

The statistics were compiled by www.informdirect.co.uk, a provider of online company formations and secretarial software, using data available from Companies House and the Office of National Statistics.

Its report - The Inform Direct Review of UK Company Formations in 2015 - includes a league table of company formations county by county as well as statistics on firms registered and dissolved and percentage growth.

It has revealed that for the 12 months ended 31st December 2015, there were a record-breaking 612,565 firms formed across the United Kingdom - up from 586,784 the year before.

Henry Catchpole, managing director of Inform Direct said: “Our dynamic economy and business-friendly environment are the reasons there is a ‘Great’ in Great Britain.

“All around the world, governments are spending time and money to figure out the best way to foster an entrepreneurial culture that helps boost the economy.

“But here in the UK, our politicians can nurture this business mentality that has established itself organically.

“Of course London has always stormed ahead in business but our figures from 2015 demonstrate that the rest of the UK is also displaying a growing confidence in entrepreneurialism.

“Lincolnshire has had a very good year – although not quite as good as 2014.”

Of the new companies created last year in Lincolnshire, 883 were in North Kesteven, 867 in South Kesteven, 811 in North Lincolnshire, 757 in North East Lincolnshire and 686 in South Holland.

There were a further 531 companies registered in Lincoln, 502 in West Lindsey, 485 in East Lindsey and 357 in Boston.

Inform Direct used its software to identify not only start-ups, but also the number of UK companies dissolved in the same period.

This has created an accurate picture of firms now registered county by county in the UK.

The total figure for the UK at the start of 2016 stood at 3.76 million.