Suffolk is now home to more than 35,000 companies for the very first time – underlining its popularity as a place to do business.

East Anglian Daily Times: Paul Simon of Suffolk Chamber of Commerce. Picture: Paul SimonPaul Simon of Suffolk Chamber of Commerce. Picture: Paul Simon (Image: Archant)

At the end of July 2018, 35,027 businesses were registered in the county according to Ipswich-based company secretarial software specialists Inform Direct, based on statistics from Companies House and the Office of National Statistics.

Leading the way in the county economy is the borough of Ipswich, which has 6,133 active companies.

It is a record high for Ipswich, which has seen growth of 11% over the last two and a half years. Ipswich was followed by St Edmundsbury, with 5,928 companies, and Suffolk Coastal, which has 5,813.

The milestone announcement also follows Suffolk enjoying a successful year for company formations in 2017, when 4,145 new businesses were established.

Director of Operations at Inform Direct John Korchak said: “This latest milestone underlines that Suffolk offers a number of key benefits to businesses and a supportive environment for both new and established companies.

“Proximity to London, extensive transport links both to other areas of the UK and overseas and an excellent quality of life are all key factors. The growing portfolio of high profile companies already established in Suffolk also makes it a thriving place to do business and is a further encouragement for new ventures to choose it as a preferred location.”

Suffolk Chamber of Commerce’s communications manager Paul Simon claimed that the Inform Direct data validates what Suffolk Chamber of Commerce has known for a long time: “that the county’s business community is among the most vibrant and successful in the country.”

But while the start up landscape in Suffolk is thriving, Mr Simon pointed out that relatively few are able to grow their company to the next level.

He added: “A challenge remains in that the county is home to a relatively small number of medium sized companies. Access to funding might be an issue in helping smaller enterprises scale-up, which is why the support provided by the New Anglia Growth Hub and managed by Suffolk Chamber, especially its Growing Business Fund, has such a vital role to play.”