Record year for company start-ups in Cambridgeshire

To see a more detailed picture of company formations in Cambridgeshire – including a full local breakdown, visit: www.informdirect.co.uk/company-formations-2022/ cambridgeshire/

To see the report in full, visit: www.informdirect.co.uk/companyformations-2022/

Inform Direct is a company secretarial and formation specialist. Its award-winning company secretarial and formations software currently supports 300,000 UK companies.

Figures just released show that more new businesses were established in Cambridgeshire during 2022 than in any previous year to date – making it one of the UK’s most successful counties.

A total of 7,739 new formations were registered in Cambridgeshire during the last 12 months, an increase of 3.5 per cent on 2021 when 7,476 were recorded. This brings the number of registered companies in the county to an all-time high of 57,788.

The statistics are taken 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 (2,629), followed by Cambridge (1,465) and South Cambridgeshire (1,319).

John Korchak, Managing Director at Inform Direct, said: “It is great that Cambridgeshire 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 Cambridgeshire, 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.”

The UK saw 805,141 new companies, compared to 771,617 in 2021, which represents an increase of 4.3 per cent and brings the total number of companies to 5,236,227.

Dissolutions of UK companies totalled 578,679, down on 2021 when 606,912 were recorded, suggesting that new and existing businesses are adapting to survive in a post-pandemic business environment.

Detective Superintendent Paul Lopez has almost 30 years policing experience with Essex Police and has worked across a number of diverse disciplines including Serious and Organised Crime, Intelligence and most recently Cyber Crime.

Paul has been the Managing Director of the Eastern Cyber Resilience Centre since May 2021 and is committed to using his experience to support businesses within the Region tackle the growing threat of cyber-crime and improve their levels of cyber resilience.

Why do businesses need to improve their cyber resilience now?

Small doesn’t mean safe when we’re talking about cybercrime. In 2022, 39 per cent of small businesses across the region reported that they had been a victim of cybercrime. A successful attack can crash your website, result in your data being encrypted or stolen and cost huge amounts of time and money to put right. With only one in 10 businesses paying for cyber insurance it could even close your business for good.

80 per cent of recorded crime in the UK is cyber fraud and only one per cent of police resources are dedicated to dealing with it. That means victims of this sort of offence are unlikely to get their money back, or see the offenders prosecuted. Consequently, businesses should do