WITNESSING an 11 per cent uptick in the number of companies incorporated last year, the Companies Office of Jamaica (COJ) said it is encouraged by the growing list of entrepreneurs who have been moving to secure formality for their businesses.

Data from the entity show that in 2022 some 5,412 new limited liability companies were incorporated, making it a record year for the number of new entrants being added to the Register of Companies in any given year. The number of businesses seeking renewals also increased by more than six per cent above the prior year.

“The increase in the number of renewals is a very positive sign for economic growth,” stated Shellie Leon, interim chief executive officer (CEO) and registrar of companies at the COJ, who also noted that as a result of current data her office is also very pleased with the commitment of entrepreneurs in positioning their businesses for continuity and

https://www.jamaicaobserver.com/business/over-5000-new-companies-incorporated-in-2022/