Record June for New Companies in Chester

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Leading company formation expert Duport.co.uk has released research that shows a record number of new companies have been formed in Chester during the month of June.

Chester Cathedral

There is more to Chester than history - it’s also a surprisingly dynamic area for other industries, particularly financial services.

Recent findings by Duport.co.uk show encouraging signs of economic growth in Chester. During the month of June a record number of new companies sprang up in the area. 103 companies were set up, a significant increase compared to the 68 companies that were formed during the previous June.

Chester played a key role in the Industrial Revolution, with 2 railway stations, many new roads and an important canal. It continues to be forward-looking in the present day, with the Chester Renaissance scheme set to run over the next 15 years. A range of projects are planned, including a new heritage trail around the city walls, an 800-seat theatre and development of the city’s Business Quarter.

Given its rich and varied history, it’s not surprising the the town has a thriving tourist trade, with an annual GVA (gross value added) of £800 million through tourism. However the town also has a healthy financial services industry, with 900 companies bringing in an annual GVA of £1.1 billion. Biotech and creative industries are also important to the local economy, bringing in £800 million and £650 million GVA annually.

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

“Chester will always be a world-class tourist hub, thanks to its outstanding cultural and historical assets. However, there is more to Chester than history - it’s also a surprisingly dynamic area for other industries, particularly financial services. The diverse base of Chester’s economy certainly bodes well for the future.”

Chester is a city with a plan for growth and development, and the number of new companies set up in June seems to show that the plan is working.

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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Tom Valaitis