Duport Associates find Portsmouth breaking records

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A new record of company formations was set in Portsmouth in March 2012, according to data analysed by formations experts Duport Associates Ltd.

Portsmouth entrepreneurs

This remarkable new surge in formations shows that Portsmouth is full of opportunities for entrepreneurs, and this 5 year high for new companies is very positive news for the city and its business community

Bristol: The boom in formations saw 128 new companies set up in March 2012 with registered offices in Portsmouth, a total that is nearly 20% higher than the previous record of 107, set in March 2007.

The data, compiled by Duport Associates was gathered from the official Register of Companies from Companies House.

Duport Associates’ Managing Director, Peter Valaitis stated: “Portsmouth’s new record for company formations is a considerable increase on its previous highest total, which has been unmatched for 5 years.”

“This remarkable new surge in formations shows that Portsmouth is full of opportunities for entrepreneurs, and this 5 year high for new companies is very positive news for the city and its business community.”

Developments around Portsmouth’s North End shopping district could be contributing to the new surge in start-up companies in the area.

£400,000 has been set aside by the local council for the project, which involves making the area more suitable for pedestrians by widening pavements as well as better signage and directions to car parks.

Voluntary groups in the area are also getting a new boost with business support from new body Community Action in Portsmouth, which will provide practical advice, support and co-ordination for the city’s voluntary organisations.

“With most of the local headlines concerning the woes of Portsmouth FC’s return to administration and subsequent relegation, I think the people of Portsmouth will be glad for some positive news!” added Peter Valaitis.

Portsmouth’s new record for company formations shows a dramatic rise from their previous record total, and could be a sign of new growth and expansion for new companies in the city.

Duport Associates Ltd is a leading UK company formation agent, operating in the UK for around 15 years. Duport registers around 10,000 new companies each year using its Companies House approved software. The Company Register which is maintained by Companies House contains public information about Limited companies and directors.

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Peter Valaitis