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2015 sees record amount of North East companies registered

More companies were registered in Tyne and Wear last year than in any year previously, according to new figures.

There were 6,042 new companies formed in the region in 2015 - up from 5,832 the year before.

This represents a 3.6% growth and means there are now a record number of firms in the area.

Of the new companies created last year in Tyne and Wear, 1,966 were in Newcastle-upon-Tyne, 1,114 were in North Tyneside and 1,084 in Sunderland. A further 1,073 were registered in Gateshead and 805 in South Tyneside.

The statistics were compiled by www.informdirect.co.uk, a provider of online company formations and secretarial software, using data available from Companies House and the Office of National Statistics.

Henry Catchpole, managing director of Inform Direct said: “Our dynamic economy and business-friendly environment are the reasons there is a ‘Great’ in Great Britain.

“All around the world, governments are spending time and money to figure out the best way to foster an entrepreneurial culture that helps boost the economy.

“But here in the UK, our politicians can nurture this business mentality that has established itself organically.

“Of course London has always stormed ahead in business but our figures from 2015 demonstrate that the rest of the UK is also displaying a growing confidence in entrepreneurialism.

“Tyne and Wear has had a very successful year and the figures indicate a surge in entrepreneurialism in 2015 for this region.”

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