NEW findings have shown that the number of new company's forming in Barnsley has hit an all-time high.

The report from show that 2013 was a successful year in terms of company formation for Barnsley, there were 966 new companies formed - more than any other year on record for the area.

This figure represents a 34 per cent increase in company formation, putting Barnsley well ahead of the UK average rise of eight per cent.

However, according to the report, company closures also rose by ten per cent over the 12 months.

Managing Director of Peter Valaitis said: “Our latest research into the Barnsley economy shows some very encouraging signs. The rise in company formation will help diversify the business base, which could help protect the area against future economic shocks."