RECENTLY published figures show that more new businesses were established in Herefordshire during 2024 than in any previous year to date – making the county one of the most successful in the UK.

A total of 4,025 new formations were registered in Herefordshire during the last 12 months, bringing the total number of registered companies in the county to 18,258.

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: “It is really good news that Herefordshire can celebrate a record number of new companies.

“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 Herefordshire demonstrated great resilience and inspired leadership, evidenced in this successful result.”

The UK as a whole 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.