Enterprising Peterborough drives record number of company creations across the county

Entrepreneurs in Peterborough have helped power the county to a new record for the number of newly created companies.​

Figures show that 2,629 new companies in Peterborough were registered last year – a record for the city.

It was the largest number of company creations of all the districts in Cambridgeshire which as a county, had a record year for the number of new businesses established.

Over the same period, there were 1,465 companies registered in Cambridge and 1,319 in South Cambridgeshire plus 624 in Fenland, 1,247 in Huntingdonshire and 439 in East Cambridgeshire. 16 new businesses could not be added to a specific postcode or district of Cambridgeshire.

It mans there was a total of 7,739 new companies registered in Cambridgeshire during the last 12 months, an increase of 3.5 per cent on 2021 when 7,476 were recorded. It brings the number of registered companies in the county to a 57,788.

However, another 6,068 companies across the county were dissolved over the same period with 1,633 of those in Peterborough.

John Korchak, managing director at Inform Direct, which compiled the data from Companies House and the Office for National Statistics, 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 Peterborough and Cambridgeshire.”

​