This is a fantastic sign for the UK economy. As the media continues to lament the recession, it’s clear that individuals are taking matters into their own hands and dragging the UK towards a new era of growth
Bristol, UK (PRWEB UK) 9 March 2012
Companies House data analysed by Duport Associates Ltd shows that in February 2012 an average of 1481 companies were formed each day. The only time this number has been higher was in February and March 2007, when changes to taxation regulation for contractors sparked an unnatural surge in registrations.
This is significant news to a country looking to drive its way out of recession through small businesses and entrepreneurship. Peter Valaitis, Managing Director of Duport Associates Ltd said: “This is a fantastic sign for the UK economy. As the media continues to lament the recession, it’s clear that individuals are taking matters into their own hands and dragging the UK towards a new era of growth”.
New company registrations fell by 24% in 2008 as the recession hit, creating caution amongst entrepreneurs. Since then there have been year on year increases in overall registrations now recovering to levels seen in 2007 and before.
The growth comes as some entrepreneurs are forced to go it alone after redundancy, where others spot new opportunities in changing or emerging markets.
One such company was Edge of the Web Ltd, a midlands based web design company formed in 2008. Director Mark Williams said: “We discovered in 2008 that our original business plan did not fit with the new economic landscape we found ourselves in. Being such a small company we were able to quickly remodel our service and packages to focus on what mattered to people at that time. Speed and price.
“There are still lots of opportunities out there for businesses that are willing to listen to what their market wants and adapt to provide it”.
It is widely expected that 2012 will prove to be the most popular year in UK history for new company registrations.