Number of Companies in West Yorkshire Reaches Record High

Recently published figures show that the number of companies in West Yorkshire rose last year to a record high. In total 24,534 new companies were registered in the county during the year, bringing the number of registered companies in West Yorkshire to an all-time high of 153,003. This represents an increase on the 151,175 active companies present at the end of 2022.

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

Across the county’s districts, Leeds formed the greatest number of new businesses (9,175), followed by Bradford (6,201) and Kirklees (4,948).

John Korchak, Managing Director at Inform Direct, said: “It is really good news that West Yorkshire can celebrate a record number of companies.

“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. But while the number of new company formations in West Yorkshire actually fell slightly in 2023 versus 2022, more companies were formed than dissolved. This shows the resilience of West Yorkshire businesspeople, keeping their companies afloat in a challenging year.

“This positive picture is mirrored in the overall position for the UK which saw the highest ever number of companies as well. The total number of UK companies rose to a record 5,476,772. In addition, UK company formations hit a record 900,006 in 2023.

Dissolutions of UK companies totalled 662,915, an increase on the 578,679 companies dissolved in 2022.

To see a more detailed picture of company formations in West Yorkshire – including a full local breakdown – visit: https://www.informdirect.co.uk/company-formations-2023/west-yorkshire/