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Two new Members appointed to Cambridge and South Cambs Committee

The largest of our regions’ local Chambers – Cambridge and South Cambs - has appointed two new committee members - Tony Murdock of TR Global Events, and Graham Wesson of GMS Business Accountants. Tony will bolster the voice of the events and hospitality industry, whilst Graham brings his finance and commercial skills to the existing committee. Tony and Graham join colleagues from Cambridge Regional College, Tees Law, ARU, South Cambridgeshire District Council and MetroBank. Committee Chair, Faye Holland (cofinitive) said: “We are delighted to welcome Tony and Graham to the Committee. These appointments are the beginning of a concerted campaign to build and maintain a Committee that reflects the needs of our area and that can represent our businesses on issues that really matter.” The Committee runs a series of programmes – from big issues like workforce availability and the circular economy; to local policy issues such as responding to consultations on transport and local infrastructure; through to specific tactical projects in areas that are on most businesses agendas - skills development, supply chain productivity and the green agenda. We are also delighted to announce that James Appleby of Tees Law will step into the role of Vice-Chair following Bill Brogan’s retirement. James has been an active member of the Committee since 2020 and co-lead on sector-specific activities during the past few years to increase engagement of and with our members. The Committee continues to seek a diverse set of members from businesses of all sizes and sectors. Committee members serve a three-year term and interested parties are welcome to express their interest to chamber@cambscci.co.uk.

Number of companies in Cambridgeshire hits record high

Latest figures show that the number of businesses in Cambridgeshire reached a record high during 2021 – despite the continuing economic challenges resulting from the pandemic. The total number of registered companies in Cambridgeshire rose to 56,346, up from 54,497 at the end of 2020, representing an increase of 3.4 per cent. During the year 7,476 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. Peterborough formed the highest number of new businesses (2,326), followed by Cambridge (1,536) and Huntingdonshire (1,321). John Korchak, Operations Director at Inform Direct, said: “It is excellent news to see that Cambridgeshire 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 (1,019) which may be the result of pent-up demand after the lockdowns of 2020 and early 2021. With widespread restrictions on travel and entertainment, people may have looked to spend their income in different ways. This was followed by real estate with 610 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 per cent increase on the total of 4,837,426 at the end of 2020. This continues a 10-year trend which shows the number of businesses in the UK doubling in that period. Whilst company formations grew, the number of dissolutions across the UK – 606,912 during 2021 – hit a record high. Reasons for this may be that new enterprises set up early in the pandemic may no longer be operating as people have returned to full-time employment or businesses thriving pre-COVID-19 have suffered as behavioural and spending patterns have changed. To see a more detailed picture of company formations in Cambridgeshire – including a full local breakdown, visit: https://www.informdirect.co.uk/company-formations-2021/ cambridgeshire/