Record number of companies created in Buckinghamshire despite Covid crisis

It brings the total number of companies in the Vale to 14,032 and was part of a record growth in the number of new businesses in Buckinghamshire during 2020.

New figures show 9,394 new companies were registered in the county last year compared to 8,835 during 2019 - an increase of 6.3 per cent.

It brings the total number of registered companies in Buckinghamshire to 73,748, up from 69,470 at the end of 2019 - up 6.2 per cent.

The largest number - 3,547 - were registered in Milton Keynes with another 1,934 registered in Wycombe, 1,159 in South Buckinghamshire and 1,048 in Chiltern.

The statistics are from the Inform Direct Review of Company Formations using data from Companies House and the Office for National Statistics.

John Korchak, Operations Director at Inform Direct, said: “It is excellent to see that Buckinghamshire has achieved a record year.

“Many of the new companies are in the retail sector, with a large number of new businesses set up to sell goods online or locally, taking advantage of customers’ changing shopping habits. The effect of the pandemic and lockdowns means that sadly some existing businesses have folded.”

“Some employees were made redundant, and we see many of those people setting up new ventures on their own as an alternative way to earn a living.

“2020 was a year like no other for UK businesses.

“Although we can look forward to a brighter future with the vaccination programme, there remain unknown factors such as how quickly the economy will recover and of course the impact of Brexit.”

The number of company dissolutions across the UK – 418,427 during 2020 – was the lowest since 2015.