Record third quarter for Sutton Coldfield economy says Duport

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Sutton Coldfield saw a record number of company formations during the third quarter of the year, according to the newly-released Duport Business Confidence Report for the area.

Sutton Coldfield is a hub for new business

Sutton Coldfield is becoming a hub for business start-ups, thanks to its central location, thriving town centre and growing financial services quarter.

Company formations in Sutton Coldfield reached a record high during the third quarter of the year, according to a new report from Duport.co.uk.

Between July and September there were 221 new company registrations - more than any other third quarter on record for the town. This figure also represents an 18% rise on the same period in 2011.

Business start-ups are becoming a key economic driver for the economy of Sutton Coldfield. The new business sector accounts for around 8 % of the overall start-up economy throughout the Birmingham region, and around 9 per cent of the local workforce is self-employed.

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

“Sutton Coldfield is becoming a hub for business start-ups, thanks to its central location, thriving town centre and growing financial services quarter.”

“More new businesses will bring greater diversity to the local economy, helping strengthen the area against future economic shocks.”

The Duport Business Confidence Report provides economic data on Sutton Coldfield, with information on everything from net company growth to business naming trends. More information can be found at http://www.duport.co.uk/suttoncoldfield.

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