New figures just published reveal that in 2024 the number of companies in Portsmouth are up and across Hampshire was the highest ever recorded – in a year that presented a range of challenges for business.
During the last 12 months, registered companies in Hampshire grew to an all-time high of 127,564 – up from 126,128 at the end of 2023 – and 14,534 new businesses were established in the county. The same report suggests that Portsmouth formed 2,006 new businesses which is up on the previous year.
The statistics are taken from the Inform Direct Review of Company Formations, using data from Companies House and the Office for National Statistics.
John Korchak, Managing Director at Inform Direct, said:
“The year undoubtedly presented a range of challenges for business with the uncertainty of the General Election, the introduction of new regulations and concerns over Labour’s first Budget in October which included the increase in employer National Insurance. World events also played a part in economic volatility with the US Election and instability in the Middle East high up on the list. Despite all these factors, businesspeople in Hampshire demonstrated great resilience and inspired leadership, evidenced in this successful result.”
The UK mirrored this trend with a record total of 5,637,210 companies, up from 5,476,772 at the end of 2023. There were 848,192 formations during the year and 690,501 dissolutions.