Newly released statistics show that last year saw a record number of new companies launched across South Yorkshire, despite the effects of the COVID-19 pandemic.
The latest Inform Direct Review of Company Formations shows that there were 10,450 brand-new businesses set up in South Yorkshire over the course of 2020. By comparison, 2019 saw 9,325 new firms created, which means that there was a year-on-year rise of 12.1%. It marks the second successive year in which the region has enjoyed record numbers of small business launches.
It also means that there are now a total of 65,398 companies throughout the county, in comparison to 60,360 by the close of 2019. This represents business growth of 8.3% and suggests that the pandemic has not dimmed enthusiasm among people in the area for running their own companies.
Sheffield was the city that saw the most new firms launched at 4,228, with Doncaster coming second at 2,836 and then Rotherham with 1,871. These new companies will be able to turn to a business accountant in South Yorkshire if they need any help with the financial side of their business.
Speaking to The Star, Inform Direct’s John Korchak said:
“It is excellent news to see that South Yorkshire has achieved a record year for new company formations during 2020 despite the unprecedented uncertainties brought by Covid-19.”
The figures that are used to make up the Inform Direct report are taken from both the Office for National Statistics and the Companies House website.