Nearly 30,000 new businesses were set up in the South West during the past year, at an average of 2,487 per month.

This is the finding of Jordans, the UK’s largest independent specialist in company formations, business information, and corporate services.

The firm’s analysis of company formation statistics took in the postcode areas of Bath(BA),Bournemouth (BH),Bristol (BS), Dorchester (DT), Exeter (EX), Gloucester(GL), Plymouth (PL), Swindon (SN), Taunton (TA), Torquay (TQ), and Truro(TR).

According to Paul Townsend, Jordans’ director of corporate services: “Entrepreneurs in the South West set up 29,841 businesses in the past 12 months, at an average of 2,487 per month.

“Not surprisingly, by far the lion’s share of new start-ups was to be found in Bristol, where during the 12 months in question, a total of 10,621 businesses were registered for the first time. Across the Bristol Channel, a total of 12,358 companies were set up in the whole of Wales during the same period – an average of 1,029 a month.

“Entrepreneurs have been driven by accountants’ advice to sole traders to incorporate their business before the new tax year. Indeed, the most effective salesman for our company information service is the Chancellor himself: almost every announcement he makes encourages entrepreneurs to shift from being sole traders to forming a company,” said Mr Townsend.

Nationally, Jordans’ survey shows that almost half a million new companies (456,320) were formed in Britain during the 12-month period, at an average of more than 38,000 per month.

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