Almost one quarter of new businesses formed in 2017 in St Edmundsbury are in Haverhill

John Korchak
John Korchak

Figures just published show that almost one quarter of all new companies formed in the borough of St Edmundsbury in 2017 are in Haverhill.

The statistics come from the Inform Direct Review of UK Company Formations using data from Companies House and the Office for National Statistics.

As well as showing that the four borough wards in Haverhill were home to 163 new businesses incorporated in 2017 - as compared to 95 that were dissolved, a net gain of 68 - the figures revealed that 659 were formed and 492 dissolved across St Edmundsbury in that time.

The statistics show that overall, Haverhill contributed 24.73 per cent of all the new firms formed in 2017 as opposed to 19.30 per cent of those dissolved.

Last year 4,145 new companies were incorporated in Suffolk and 2,936 dissolved.

Of every single ward in the St Edmundsbury Borough, Haverhill South had the second highest net gain in the number of newly registered companies last year. It had 34, with only Moreton Hall in Bury (55) having more.

In terms of the net gain in new companies for the whole county, Haverhill contributed 5.62 per cent (68 out of 1,209).

John Korchak, director of operations at Inform Direct, said: “These figures for new company formulations during 2017 show that Suffolk 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 - 4,145 versus 4,291 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.”

In Suffolk, Ipswich formed the most new businesses (891), followed by Suffolk Coastal (666) and St Edmundsbury (659).