Recently released figures show that the number of companies in Hertfordshire hit a record high in 2022, with 122,123 businesses now registered in the county.

13,643 new businesses were established last year, with the total number of businesses increasing by 2.8 per cent from 2021.

The statistics are taken from Inform Direct's review of company formations, which uses data from Companies House and the Office for National Statistics.

In Herts, Dacorum was the area that saw the greatest number of new businesses (1,860), followed by:

  • Hertsmere - 1,741
  • St Albans - 1,685
  • Watford - 1,553
  • East Herts - 1,261
  • Welwyn Hatfield - 1,171
  • Broxbourne - 1,143
  • North Herts - 1,090
  • Three Rivers - 1,089
  • Stevenage - 1,019

John Korchak, managing director of Inform Direct, said: "It is great to be able to
celebrate a record high number of businesses based in Hertfordshire.

"The last few years have been turbulent for businesses, with inflation and a cautious economic outlook following the impact of the pandemic.

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"However, in these figures we see evidence of the ambition, creativity and resilience of the entrepreneurs in Hertfordshire, 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 first time."

805,141 new companies were established in the UK in 2022, compared to 771,617 in 2021. There were a total of 5,236,227 companies in the UK at the end of 2022.

Meanwhile, 578,679 companies were dissolved in 2022, a reduction from 606,912 in 2021.

Further details on company formations and dissolutions in Herts are available on Inform Direct's website.