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The number of companies in Bristol remained largely unchanged in 2021 as thousands of firms went bust amid the pandemic, a new study finds.

Despite 5,125 new businesses being created, there was a 44.4% increase in the number of companies that ceased trading, with a total of 4,150 firms dissolved during the year.

The total number of registered companies in the city rose to 36,239 in 2021 - up just 0.1% on the year previously, according to secretarial software firm Inform Direct, which studied data from Companies House and the Office for National Statistics

Inform Direct said the rise in the rate of dissolved businesses in Bristol followed the national trend, with the º£½ÇÊÓƵ as a whole seeing the number of companies that stopped trading soar by 45% in 2021.

Some 95% of companies formed in Bristol were private limited companies with the majority of other companies being registered as limited by guarantee.

John Korchak, operations director at Inform Direct, said: “Bristol boasts an active economy, demonstrated by this latest increase in the number of businesses based in the county.

“Entrepreneurs are clearly motivated to invest in new businesses which meet current and emerging demands for goods or services.

“The overall picture for the º£½ÇÊÓƵ as a whole is also an optimistic one with the total number of companies now exceeding five million for the very first time.”