Southampton Sets Record for New Companies in Second Quarter

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Southampton has seen a record Q2 for number of new companies formed, according to research by company formation experts Duport.co.uk.

Cruise ship leaves Southampton

Southampton is a vibrant city with great opportunities for a wide range of business start-ups.

Southampton has seen a record second quarter in terms of new companies being set up. 588 new companies have sprung up in Q2, comfortably beating the previous record of 507 in the Q2 last year.

Southampton has a varied economy, from the busy port with four luxury cruise liner terminals, to the University Hospital Southampton NHS Foundation Trust which provides services to 500,000 people in the area. The city also hosts WestQuay, one of the biggest shopping centres in the country. WestQuay represents the second phase of a large-scale redevelopment of Southampton, and plans for the third stage include more shops, housing, a hotel and a public piazza alongside the Town Walls.

The housing sector in the city is currently booming, with a new ten-storey development on the former Gantry theatre site bringing 115 new affordable flats to the city centre. An even larger development is in the pipeline with 29 flats, a 60,000 sq ft food store and other shops, bars and restaurants around a civic square at the former Vosper Thornycroft site in Woolston. The development could create 225 new jobs and is due to be completed in 2018.

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

“Southampton is a vibrant city with great opportunities for a wide range of business start-ups. The record number of new companies in the second quarter of the year is a good sign for further economic success in the future.”

With such a varied economic base, Southampton looks set for a solid future – something which will benefit new businesses that choose to set up there.

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