Figures from Inform Direct showed that 2,326 new companies were registered in Peterborough during 2021 Peterborough; the highest rate in Cambridgeshire where 7,476 new businesses were registered during the same time period. Click here to read the data.

These new figures come after research group Centre for Cities ranked Peterborough fifth in the UK for start-ups per head of population in its Cities Outlook 2022.

Tom Hennessy, chief executive of economic development company Opportunity Peterborough, said: “Peterborough has always been an enterprising hotspot and this data aligns with recent figures from Centre for Cities which ranked Peterborough 5th in the UK for start-ups per head of population.

“There are so many reasons that people set up businesses – they have an idea, a skill, or a craft they’re passionate about; they’ve come up with a revolutionary product; they want more control over their working hours and earnings.

“The last two years in particular have created huge business opportunities with evolving customer behaviour and changing business practices.

“Whatever the reason someone sets up a business, it takes time, commitment, and courage. It can seem a daunting task, but you don’t have to do it alone; there is so much support out there for entrepreneurs, and we can help them find that support.”