Business booming in Luton and Dunstable as more than 4,000 new companies start up in 2022

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Business is booming again in Luton and Dunstable.

Business is booming again in Luton and Dunstable – according to new statistics.

Figures just released show that around 4,287 new businesses were formed in Luton during 2022 and 209 in the Dunstable area. In Caddington alone 83 new businesses were formed. In Luton, the South ward saw 335 new companies launched.

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Bedfordshire as a whole welcomed more new companies during 2022 than in the previous 12 months – marking the county out as a great place to do business.

John Korchak says business is booming in Luton and Dunstable - Photo Keith Mindham PhotographyJohn Korchak says business is booming in Luton and Dunstable - Photo Keith Mindham Photography
John Korchak says business is booming in Luton and Dunstable - Photo Keith Mindham Photography

A total of 8,495 new companies were registered in the county, an increase of 14.6% on 2021, resulting in a record high of 50,545 businesses in the county.

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

Luton formed the highest number of new businesses, followed by Central Bedfordshire (2,151) and Bedford (2,028).

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John Korchak, Managing Director at Inform Direct said: “It is great news to see that Bedfordshire can celebrate a successful year for new company formations.

“The last few years have been turbulent for businesses, with inflation and a cautious economic outlook following the impact of the pandemic. However, in these figures we see evidence of the ambition, creativity and resilience of entrepreneurs in Bedfordshire, 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 very first time.”

The UK saw 805,141 new companies, compared to 771,617 in 2021, which represents an increase of 4.3% and brings the total number of companies to 5,236,227.

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Dissolutions of UK companies totalled 578,679, down on 2021 when 606,912 were recorded, suggesting that new and existing businesses are adapting to survive in a post-pandemic business environment.

You can see a more detailed picture of company formations in Bedfordshire – including a full local breakdown – online here.

Inform Direct is a company secretarial and formation specialist. Its award-winning company secretarial and formations software currently supports 300,000 UK companies.