BUSINESS is booming in Berkshire. New figures released last week show that last year, there was a 2.9% growth in the number of companies in the Thames Valley.
Research by the Inform Direct Review of UK Company Formations reveals that 8,679 new companies were formed in Berkshire during 2017, 1,235 of them in Wokingham borough – demonstrating that the county provides a supportive environment for new business ventures.
This brings the total number of registered companies in Berkshire to 66,738, up from 64,828 at the end of 2016.
Slough formed the most new businesses (1,985), followed by Windsor and Maidenhead (1,661) and Reading (1,564).
John Korchak (pictured), director of operations at Inform Direct, said: “These figures for new company formations during 2017 show that Berkshire continues to be a fertile ground for entrepreneurs and new business ventures.
“Although a successful year, there was a fall in the number of new businesses established in 2017, compared to the previous year – 8,679 versus 9,081 in 2016 – which mirrors the national trend.
“This slowdown could be attributed, at least in part, to ongoing political uncertainty and concern in the business community over the impact of Brexit.”
Across the UK as a whole, there was a reduction in the number of new company formations – 634,116 compared with 664,720 at the end
However the number of registered companies in the UK continued to grow, passing the 4,000,000 milestone during 2017 and finishing the year with a total of 4,120,349.
Of the 569,585 formations in England, 205,527 were in London. 34,002 companies were formed in Scotland, 17,408 in Wales and 7,398 in Northern Ireland.
The news comes hot on the heels of the recent launch by Reading & Wokingham Thames Valley Chamber of Commerce of its Made In Reading and Wokingham campaign.
The scheme aims to promote the borough as a great place to do business.
Andy Cowie, President, Reading & Wokingham Thames Valley Chamber of Commerce, said: “We have got plenty to shout about and be proud of including diverse businesses of all sizes, continuing investment in transport links and infrastructure and first class educational facilities.”