New startup companies in Kent reach an all-time high in 2023

Recently published figures reveal that more new businesses were established in Kent during 2023 than in the previous year, making the county one of the most successful in the UK.

A total of 17,620 new formations were registered in Kent during the last 12 months, an increase of 9.4% from 2022 when 16,109 were recorded. This brings the number of registered companies in the county to an all-time high of 133,898.

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

Across the county’s districts, Medway formed the highest number of new businesses (2,958), followed by Dartford (1,628) and Maidstone (1,625).

John Korchak, managing director at Inform Direct, said: “It is excellent news that Kent can celebrate a successful year for new company formations during 2023.

John Korchak

“The year, undoubtedly, presented a range of challenges for business including tepid predictions of economic growth, volatility in energy prices and uncertainty from world events. However, the formation figures demonstrate very clearly that Kent entrepreneurs remained undeterred and pursued their ambitions to establish new ventures.

“This positive picture is mirrored in the overall position for the UK which saw the highest ever number of new companies established during 2023. The total number of UK formations exceeded 900,000 for the very first time.”

The UK saw 900,006 new companies, compared to 805,141 in 2022, which represents an increase of 11.8%. It brings the total number of UK companies to a record 5,476,772.

Dissolutions of UK companies totalled 662,915, an increase on the 578,679 companies dissolved in 2022.

You can see a more detailed picture of company formations in Kent, including a full local breakdown, here.

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