The record level of company formation is a positive indication that the city will prosper in years to come.
Sunderland, UK (PRWEB UK) 15 August 2012
Despite tough economic conditions, Sunderland has had a record number of company formations during the last quarter. There were 171 new companies formed, smashing the previous record of 145, set in Q2 of 2007.
Sunderland’s economy suffered in the early 80s, due to the decline of the shipbuilding and coalmining industries that had been the main source of employment for the city. However, the opening of a giant Nissan car factory in 1986 heralded a new beginning for the city. New service industries moved into the area and unemployment figures began to drop.
Today, a number of regeneration projects are underway to improve the economy of the city further. These include making Sunderland a national hub for the low-carbon economy by developing businesses in electric vehicles, renewable energy and software. Enhancement of the city centre is another key aim, and will involve creating a new central business district, a new mixed-use civic space and an improved shopping centre.
Managing Director of Duport.co.uk, Peter Valaitis said:
“Sunderland is facing up to a difficult economic climate with a dynamic plan for future growth. The record level of company formation is a positive indication that the city will prosper in years to come.”
The record number of business start-ups in Sunderland this quarter can only be a positive thing for the city. As the new companies grow and develop, they will bring more wealth and jobs to the area.
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.