Positive signs for Bury St Edmunds economy in Duport report

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Bury St Edmunds has seen a record level of company formation during the third quarter of the year, according to data in the recently-released Duport Business Confidence Report.

St Edmundsbury Cathedral

The record-breaking number of company formations seen in the third quarter, together with healthy performance in other areas, is a good sign that the local economy is growing stronger

Bury St Edmunds: The third quarter of the year has been a successful one for business start-ups in Bury St Edmunds. The latest Duport Business Confidence Report for the area reveals a record-breaking number of company formations between July and September.

There were 127 companies registered during this period, more than any other third quarter on record for the town, and a 20% increase on Q3 2011.

The report also reveals a rise in UK company share and net company growth, suggesting that the area is recovering from the effects of the economic downturn.

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

“Bury St Edmunds has long been thought of as an affluent town with solid economy. However, our report shows that company formation and net company growth did suffer in 2008 and 2009, proving that even the most stable of economies were not immune to the effects of the recession.”

“The record-breaking number of company formations seen in the third quarter, together with healthy performance in other areas, is a good sign that the local economy is growing stronger.”

The Duport Business Confidence Report for Bury St Edmunds provides a wealth of data and information, providing an insight into the business landscape of the area. More information can be found at http://www.duport.co.uk/burystedmunds.

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