Sunderland company formations reach all-time high

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Company formations in Sunderland peaked during the first six months of the year, according to statistics released in the latest Duport Business Confidence Report for the area.

Sunderland

The record number of new company formations during the first half of the year is fantastic news, and bodes well for the future economy of the city.

During the first six months of the 2012, Sunderland saw its highest ever number of company formations in a half year. There were 311 companies formed between January and June, representing a 13% rise on the same period in 2011. More data on company formations is available in full Duport Business Confidence Report at http://www.duport.co.uk/sunderland.

Sunderland’s economy suffered in the early 80s, due to the decline of the shipbuilding and coal mining industries that had previously formed the economic base of the city. However, the opening of a huge Nissan car factory in 1986 heralded a new beginning for the area. New service industries moved into Sunderland and unemployment figures began to drop.

Today, a number of regeneration projects are underway to improve the economy of the city further. These include making Sunderland a national hub for the low-carbon economy by developing businesses in electric vehicles, renewable energy and software. Enhancement of the city centre is another key aim, and will involve creating a new central business district, a new mixed-use civic space and an improved shopping centre.

Managing Director of Duport.co.uk, Peter Valaitis said:

“The record number of new company formations during the first half of the year is fantastic news, and bodes well for the future economy of the city.

“As these new businesses grow and develop, they will bring more wealth and employment to the area, benefitting Sunderland as a whole.”

The Duport Business Confidence Report for Sunderland provides facts and statistics that give an up-to-date economic overview of the city, as well as historical data. Duport Business Confidence Reports are published quarterly for every area of the UK.

Duport Business Confidence Reports are generated and released by Duport Associates Ltd. The data contained in these reports is assimilated and analysed by Duport using public record data from sources including Companies House, Office for National Statistics and Ordnance Survey. Duport Associates Ltd is a leading UK company formation agent, established in 1997 and registering around 10,000 new companies each year through its Companies House approved software.

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Tom Valaitis