The high net company growth seen at the start of this year shows that a broadened economic base has strengthened the economy.
Wakefield, UK (PRWEB UK) 26 October 2012
Net company growth rose by a significant amount during the first three months of the year in Wakefield, according to figures in the latest Duport Business Confidence Report. The company register increased by 51 during this period, compared with a decrease of 41 during the same period in 2011. More details can be found in the full report at http://www.duport.co.uk/wakefield.
Historically, the economy of Wakefield was based around coal mining and traditional manufacturing, but the decline of these industries saw a period of high unemployment in the 1980s. However, European and United Kingdom government funding has had a positive effect on the area in the last two decades.
Wakefield Council published a document containing key economic statistics earlier this year, which shows a broad and diverse economic base in the area. Manufacturing still makes up 11% of employment, but retail now accounts for 10.8%, transport and storage 8.6% and health 14.5%.
“Wakefield suffered with the decline of the manufacturing industry, but investment and regeneration have worked wonders for the town,” said Peter Valaitis, Managing Director of Duport.co.uk
“The high net company growth seen at the start of this year shows that a broadened economic base has strengthened the economy.”
The Duport Business Confidence Report for Wakefield provides facts and figures on the current economy as well as historical data, including company formation and closure numbers. Duport reports on each area of the UK on a quarterly basis.
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.