Greater Manchester is the UK’s largest business hub outside London. Over the past decade, tens of thousands of new companies have been incorporated across the metropolitan county every single year. This article pulls together data from Companies House, the Office for National Statistics, and the Greater Manchester Combined Authority to show exactly what has happened to business registrations since 2015.
Manchester Business Registrations: 10 Year Data (2015 to 2024)
| Year | New Companies Formed | Year-on-Year Change |
| 2015 | ~22,000 | — |
| 2016 | ~23,500 | +7% |
| 2017 | ~25,000 | +6% |
| 2018 | ~27,000 | +8% |
| 2019 | ~29,000 | +7% |
| 2020 | ~36,000 | +9.5% |
| 2021 | ~38,000 | +6% |
| 2022 | 38,756 | +2% |
| 2023 | 41,222 | +6.4% |
| 2024 | 40,892 | -0.8% |
Data compiled from Inform Direct’s annual UK company formation reviews, Companies House statistical releases, and the ONS Business Demography series.
By the end of 2024, the total number of registered companies in Greater Manchester reached an all-time high of 251,769. Manchester city itself formed the most new businesses in 2024 at 13,202 followed by Bolton at 4,330 and Stockport at 3,541.
What the Numbers Show
Steady Growth Before the Pandemic (2015 to 2019)
Between 2015 and 2019, Greater Manchester added new businesses at a consistent rate of roughly 6 to 8 percent per year.
- Formations grew from around 22,000 in 2015 to 29,000 by 2019, per Inform Direct’s Greater Manchester county-level data
- The region ranked third in England for new company registrations throughout this period, behind only London and the West Midlands
- Business birth rate rose from 81 per 10,000 working-age residents in 2016 to around 90 by 2017, per GMCA Key Facts reports
- Growth was led by digital and creative, financial services, and professional services sectors
- Manchester’s universities produced around 30,000 graduates per year, feeding the startup pipeline throughout this period
The COVID Startup Surge (2020 to 2021)
The pandemic produced a counterintuitive result: business registrations went up, not down.
- Greater Manchester recorded over 36,000 new companies in 2020 alone, a 9.5% increase on 2019, per Inform Direct’s 2020 Greater Manchester formation review
- Manchester city incorporated 11,037 of those businesses, the highest of any district in the region
- E-commerce, delivery, logistics, and technology startups were among the fastest-growing categories nationally
- The UK recorded a significant spike in company registrations in 2020, mirroring the Greater Manchester trend
- Redundancy-driven entrepreneurship played a notable role, with many new founders starting businesses after leaving employment during the pandemic
Post-AI Era (2022 Onwards)
ChatGPT launched in November 2022, and the years that followed saw both record formation numbers and the first signs of normalisation.
- The total registered company base surpassed 233,000 by end of 2022, with annual growth of 7.1% against a UK average of 4.6%, per Inform Direct’s 2022 Greater Manchester report
- 2023 produced a new record of 41,222 new companies, per the Inform Direct review of 2023 UK company formations
- 2024 saw a slight dip to 40,892, partly due to Companies House raising its incorporation fee from £12 to £50, as detailed in the Companies Register Activities FYE 2025 statistical release
- Nationally, incorporations fell 10% in the financial year ending 2025 following the same fee change, per the same GOV.UK statistical release
- Despite the dip, the total company base reached an all-time high of 251,769 by end of 2024, per the Inform Direct review of 2024 UK company formations
Manchester vs the Rest of the UK
Greater Manchester consistently holds the third position in England for new company formations, behind London and the West Midlands.
In 2023, the top areas outside London were: West Midlands (44,594), Greater Manchester (41,222), West Yorkshire (24,534), and Essex (20,333), per the Inform Direct review of 2023 UK company formations. The gap between Manchester and fourth place is significant, confirming the region’s position as a genuine secondary business hub rather than just a regional centre.
The North West recorded a business birth rate of 11.9%, one of the highest regional rates in England, per the House of Commons Library Business Statistics briefing. In 2025, North West incorporations grew 3.55% year on year, one of the strongest regional performances nationally, per the NatWest and Beauhurst Startup Index February 2026.
Why Manchester Keeps Growing
- Talent and Universities: Five major universities produce around 30,000 graduates per year. The University of Manchester ranks third in the UK for research power. Graduate retention has improved steadily, and international student intake adds further diversity to the entrepreneurial pipeline.
- Sectoral Strength: Key industries include digital and creative, financial services, advanced manufacturing, health innovation, and logistics. The North West attracted around 10% of all UK equity investment in 2024, per the Bennett Institute’s report on start-ups and scale-ups in UK technology sectors.
- Infrastructure and Investment: Greater Manchester’s GDP reached approximately £90.8 billion in 2022, per Statista’s Manchester economic data. GDP per capita rose from £35,864 in 2011 to £65,591 in 2023, an 83% increase and the highest inflation-adjusted growth of any British city. Manchester Airport is the UK’s third largest with direct flights to over 200 destinations, per the GMCA Key Facts 2017 report.
Starting a Business in Manchester
Manchester has produced record business registration numbers for three consecutive years. The infrastructure, talent, and investment environment are as strong as they have ever been. If you are considering starting or acquiring a business here, the conditions are in your favour.
Frequently Asked Questions
How many businesses are registered in Manchester? As of the end of 2024, Greater Manchester had 251,769 registered companies, the highest total ever recorded for the region.
How many new businesses register in Manchester each year? Around 40,000 to 41,000 new companies are formed in Greater Manchester each year. The record was set in 2023 with 41,222 new formations.
Is Manchester a good place to start a business? Yes. Manchester ranks third in England for new company formations and has one of the highest business birth rates in the UK. The region’s talent pool, sectoral diversity, and infrastructure make it one of the strongest locations outside London for new business activity.
Why did business registrations dip in 2024? The main factor was Companies House raising its incorporation fee from £12 to £50 in May 2024. Nationally, incorporations fell 10% in the following financial year. Greater Manchester’s dip was modest at just 0.8%.
How does Manchester compare to other UK cities for business registrations? Greater Manchester consistently ranks third in England, behind London and the West Midlands. In 2023, it formed 41,222 new companies against West Midlands’ 44,594 and significantly ahead of West Yorkshire’s 24,534.
