Entrepreneurs thrive in Cherwell despite Covid crisis

New figures show that 1,276 new companies were registered in Cherwell last year, bringing the total number of companies in the area to 10,114.

The district was the powerhouse of Oxfordshire which saw a record growth in the number of new businesses during 2020.

The statistics show that 5,363 new companies were registered in the county last year compared to 5,087 during 2019 - an increase of 5.4 per cent.

It brings the total number of registered companies in Oxfordshire to 45,071, up from 42,461 at the end of 2019 - a rise of 6.1 per cent.

In Oxford, over the same period, 1,257 new companies were registered, with 1,131 registered in South Oxfordshire plus 868 in West Oxfordshire and 815 in the Vale of White Horse.

A total of 3,171 county companies were dissolved over the same period.

The statistics are from the Inform Direct Review of Company Formations using data from Companies House and the Office for National Statistics.

John Korchak, operations director at Inform Direct, said: “It is excellent that Oxfordshire has achieved a record year for new company formations during 2020 despite the unprecedented uncertainties brought by Covid-19.

“Many of the new company formations are in the retail sector, with a large number of new businesses set up to sell goods online or locally.

“Sadly, some existing businesses have folded and employees made redundant, and we see many of those people setting up new ventures on their own to earn a living.”