Company formation falling in Wellingborough says new report from Duport.co.uk

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A new report from company formation agent, Duport.co.uk shows the number of new businesses setting up in Wellingborough has fallen during the third quarter of the year.

New companies declined during Q3

The regeneration of the town centre could go a long way to attracting new business back to Wellingborough. As the project progresses I would expect to see improved statistics for the area.

Company formation in Wellingborough fell during the third quarter of the year, according to the latest Duport Business Confidence Report.

The report reveals that the number of new company registrations in the third quarter was 30% lower than the same period in 2011. Figures in the report also show that net company growth has remained almost static over the past year, decreasing slightly from -5 in the third quarter of 2011 to -6 during the third quarter of 2012.

These statistics reflect the challenging economic conditions the UK as a whole is facing, but planned redevelopment work in the town centre could help encourage more new companies to set up there.

The redevelopment project includes improvements to principal streets and public areas, as well a mixed use site with offices, homes and retail units.

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

“Our report shows a mixed bag of statistics for Wellingborough. Although company formation has fallen, there is other positive news for the town. For example, the number of female director appointments rose dramatically during the last quarter.”

“The regeneration of the town centre could go a long way to attracting new business back to Wellingborough. As the project progresses I would expect to see improved statistics for the area.”

The Duport Business Confidence Report provides an economic overview of Wellingborough, and includes both current and historical data. More information can be found at http://www.duport.co.uk/wellingborough.

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