Since 2022, Hertfordshire has consistently outpaced the UK’s business birth rates, despite a dip from a three-year high in Q1 2022. Economic uncertainty, global conflicts affecting supply chains, changing industry dynamics, and high credit costs have dampened entrepreneurial activity. However, in Q4 2024, Hertfordshire saw a 2% increase in new business creations, with 1,460 new businesses, contrasting with an 8.5% decrease in the UK overall.
In April, the Made Smarter Adoption Programme will launch in the East of England to drive digital transformation in manufacturing. The Hertfordshire Growth Hub (HGH) has partnered with the University of Hertfordshire Business School to deliver webinars and plans to collaborate with the Department of Business & Trade on future webinars. Additionally, HGH supported Watford Borough Council in awarding businesses that achieved the Watford Pledge for social responsibility and sustainability.