Also in the top five were Surrey and Hampshire, the five areas accounting for almost half the companies set up in the UK in the first 10 months of the year.

Despite over 16,000 companies being incorporated in Kent and Essex in 2024, just 40% of these are expected to survive, according to research by BizSpace.

Top of the list was Kent with over 8,170 companies and a 40% survival rate, and Essex with 8,050 new businesses and a slightly better 42% survival rate.

Westminster in London had the third highest number of new companies in 2024, with a higher rate of survival of 46% but the data does not show how many of these company registrations rather than actual new businesses operating in the area.