A TOTAL of 369 new businesses were formed in Inverclyde last year.

Statistics from Companies House and the Office for National Statistics reveal that the number of businesses across Scotland hit a record high in 2023, with almost 39,900 new companies being established.

This represents an increase of three point five percent on 2022 figures.

John Korchak, Managing Director at Inform Direct said: “It is excellent news that Scotland can celebrate a record year for the number of businesses in 2023.

“The year undoubtedly presented a range of challenges for business including tepid predictions of economic growth, volatility in energy prices and uncertainty from world events.

"However, the formation figures demonstrate very clearly that entrepreneurs in Scotland remained undeterred and pursued their ambitions to establish new ventures.

“This positive picture is mirrored in the overall position for the UK which saw the highest ever number of new companies established during 2023.

“The total number of UK formations exceeded 900,000 for the very first time.”