Luton leads the way for new businesses as more than 3,500 open in 2021

Luton tops the charts for most new businesses formed in Bedfordshire in 2021

Latest figures show that the number of businesses in Bedfordshire reached a record high during 2021 – despite the continuing economic challenges resulting from the pandemic.

The total number of registered companies in Bedfordshire rose to 47,831, up from 46,207 at the end of 2020, representing an increase of 3.5%.

During the year 7,413 new businesses were registered in the county.

The statistics come 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 (3,563), followed by Central Bedfordshire (2,103) and Bedford (1,730).

John Korchak, Operations Director at Inform Direct said: “It is excellent news to see that Bedfordshire has achieved a record high for the number of businesses in the county despite the continuing challenges of the pandemic.

“The retail sector saw the largest number of new companies (1,213) which may be the result of pent-up demand after the lockdowns of 2020 and early 2021 and people looking to spend their income in different ways as a result of widespread restrictions on travel and entertainment. This was followed by construction with 949 new incorporations.

“Reaching a new record number of companies demonstrates an active economy with entrepreneurs motivated to invest in new businesses which meet current and emerging demands for goods or services. The overall picture for the UK as a whole is also an optimistic one with the total number of companies now exceeding five million for the very first time.”

The UK saw 771,617 new businesses formed, compared to 780,760 in 2020. The overall number of UK companies totalled 5,005,147, a 3.5% increase on the total of 4,837,426 at the end of 2020. This continues a ten-year trend which shows the number of businesses in the UK doubling in that period.