25th Feb, 2020

Fewest number of businesses launched in Hills

Malvern Editorial 18th Apr, 2015 Updated: 20th Oct, 2016

MALVERN Hills District launched the fewest number of new businesses in the county last year, it has been revealed.

The statistics, compiled by Inform Direct, show the area formed 464 companies in 2014, while there were 285 which dissolved.

That number ranks bottom of the pile in Worcestershire as Wychavon created 843, Worcester made 602, there were 593 in Bromsgrove, 540 in Wyre Forest and 482 in Redditch.

However, Malvern Hills net change of 179 businesses over the last 12 months only fell behind neighbouring Worcester and Wychavon. There were 4,090 companies in Malvern Hills at the end of last year.

Despite a record-breaking year in the number of new businesses created in Worcestershire, the county’s growth rate of just 3.8 per cent was the third worst in England. The national average was 6.6 per cent.

A total of 3,520 companies launched in Worcestershire beat the previous best of 3,387 but there were 2,487 which dissolved over the same period.

Henry Catchpole, CEO of Inform Direct, which manages company records, said: “This is clearly an area where fledgling firms are flourishing and where people are starting to make their dreams a reality in the world of business.

“Growth in companies based in the county stands at 3.8 per cent, which is much lower than the national average of 6.6 per cent and the third worst growth rate in England.

“This is because the number of companies being dissolved each year holds back the growth of total companies based in the county.”

Worcestershire ranked 39th in the country for number of companies created.

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