Positive signs in new economic report for Stevenage

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The latest Duport Business Confidence Report reveals a number of positive economic trends that emerged during the third quarter of the year in Stevenage.

New companies are forming in Stevenage

The rise in company formations during the third quarter shows that entrepreneurial spirit is alive and well in the town.

Stevenage: There was a rise in company formations during the third quarter of the year in Stevenage, according to a new report by leading company formation specialists, Duport.co.uk. A total of 153 companies were registered during this period, representing a 16% rise on the third quarter of 2011.

The report also reveals that the month of July saw more new companies formed that any other July on record for the town. This impressive statistic could be the linked to the economic boost brought about by the Diamond Jubilee celebrations and the Olympic Games.

However, the third quarter also saw a rise in company closures, meaning that despite the increase in company formations, net company growth stayed the same as in 2011.

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

“Like the rest of the UK, Stevenage is facing a difficult economic climate. However, the rise in company formations during the third quarter shows that entrepreneurial spirit is alive and well in the town.”

“The companies formed during the third quarter of the year will benefit from increased trade in the run up to Christmas, which should help strengthen their future prospects.”

The Duport Business Confidence Report gives a valuable insight into the current economy of Stevenage, and also provides historical data that allows comparison with previous years. More information can be found at http://www.duport.co.uk/stevenage.

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