Number of start-ups in Cumbria hit record high

The number of start-ups in Cumbria has hit a record high, a new study has revealed.

According to Inform Direct’s review of company formations, figures show that more new businesses were established in Cumbria last year than in any previous year to date.

The data, which has been compiled from sources including Companies House and the Office for National Statistics, found a total of 2,418 new firms were registered in Cumbria during the last 12 months – an increase of 5.8 per cent on 2021 when 2,286 were recorded.

The new figures bring the number of registered companies in the county to an all-time high of 23,003.

Carlisle formed the highest number with a total of 653 new businesses, followed by South Lakeland’s 559 and Allerdale’s 399.

Whereas in Barrow, only 355 new businesses were set up, followed by 262 in Eden and 188 in Copeland.

John Korchak, managing director at Inform Direct said: “It is great that Cumbria can celebrate a record year for the number of new businesses established.

“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 Cumbria, 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.”