The record number of new companies formed in Smethwick during the last quarter is a promising sign for the economy of the area.
UK (PRWEB UK) 20 August 2012
Smethwick: Midlands town, Smethwick has experienced a record-breaking level of company formation during the last quarter. 112 new companies were set up, easily beating the previous record of 85 that was set in Q2 of 2009.
Further good news for the area comes in the form of a £2.5 million investment by local foundry business, Incanite. The first stage of the investment will be in a new aluminium foundry, which will create 65 jobs. The company already employs 100 staff and looks set to increase its turnover from £3.5 million last year to £8 – 9 million in the current financial year.
But as the record number of company registrations shows, it’s not all about big business in Smethwick. There is plenty of support for those wishing to start a company of their own. The local council offers advice, information and workshops to those wishing to start up a business as a sole trader or limited company. There is also the opportunity for new companies to use managed workspace provided by the council.
Managing Director of Duport.co.uk, Peter Valaitis said:
“The record number of new companies formed in Smethwick during the last quarter is a promising sign for the economy of the area. Figures show that UK unemployment fell during the last quarter and it would seem the town is due to follow this trend.”
With close links to Birmingham and a burgeoning community of large and small businesses, the economy of Smethwick looks like it could be on the up.
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.