Entrepreneurs shrug off Brexit dismay as new ideas flourish

John Korchak, director of operations for Inform Direct.
John Korchak, director of operations for Inform Direct.
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Entrepreneurs in Peterborough are leading the way as a record number of companies were registered across the county last year.

New figures show 1,790 companies were set up in Peterborough last year.

Tom Hennessy, chief executive of Opportunity Peterborough.

Tom Hennessy, chief executive of Opportunity Peterborough.

It was the largest figure for any region across Cambridgeshire, and powered the way for the county’s record breaking result.

The county saw 6,786 new companies registered compared to 6,384 in 2017 - a rise of 6.3 per cent. However, 4,809 companies were also dissolved over the same time.

In South Cambridgeshire 1,759 businesses were registered while Huntingdonshire registered 1,325 new companies.

The figures are from specialists Inform Direct. They show the county is home to a total of 48,390 - up from 46,059 at the end of 2017 - an increase of 5.1 per cent.

John Korchak, director of operations, said: “These figures show a very positive picture for business against a background of political and economic uncertainty.”

Tom Hennessy, chief executive of Opportunity Peterborough, said: “This analysis reflects the findings of our own 2019 Economic Intelligence Report.

“And it’s a really positive story for Peterborough and the wider economy.

Mr Hennessy added: “In fact, Peterborough consistently outperforms the surrounding area, and the UK as a whole, when it comes to the creation of new businesses.

“This is testament to the entrepreneurial spirit in the city, and backs up our claim that Peterborough is a great place to invest and do business.”