Dorset Is Booming With New Businesses

Business_News

Published at 9:38am 27th March 2015.

Dorset has smashed the record for the number of new businesses launched in the area in a single year, according to new research.

Dorset has smashed the record for the number of new businesses launched in the area in a single year, according to new research.

Statistics compiled by www.informdirect.co.uk, have revealed that there were 6,304 companies formed in 2014, up from a previous best of 6,054.

The total number of businesses operating in the region now stands at an all-time high of 43,707, which is 5.9% higher than a year before and 34% more than five years ago.

Henry Catchpole, CEO of Inform Direct, said: "This is an area where fledgling firms are flourishing and where people are starting to make their dreams a reality in the word of business.

Across the county, away from the Bournemouth and Poole area, the next performing area was West Dorset with 779, with as many new businesses as Weymouth & Portland, Purbeck and North Dorset District council areas combined..

Mr Catchpole said: "There is lots of support out there for new businesses and there is certainly more entrepreneurial spirit being demonstrated in regions like Dorset than there has ever been before."

There are 59 companies per 1,000 people in Dorset compared to a UK average of 55.

Mr Catchpole suggests that there are three complementary factors fuelling this growth.

First, there is the ease and speed with which a company can be started - usually within hours and generally for less than £20.

Secondly, many companies can successfully operate from home and need little more than a website before they can start trading.

Thirdly, there are improved channels for accessing capital.

Crowdfunding is a good example of this, making it easier for new companies to get early stage backing and therefore encouraging would-be entrepreneurs to give it a go.