Record-Breaking Q2 for Lichfield Economy

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Research by company formation experts, Duport.co.uk shows that Lichfield has experienced a record-breaking Q2 in terms of number of new companies formed.

Lichfield Cathedral

New businesses will feel the benefit of increased footfall to the town centre once the Friarsgate project is complete.

Lichfield: Staffordshire city, Lichfield has seen a record level of company formation in the last quarter, according to Companies House data analysed by Duport.co.uk. 107 new companies were formed, breaking the previous record of 95 that was set during the same period in 2007.

The surge in company registration could be to do with the planned £100 million Friarsgate project. The mixed-use development is designed to complement the rest of the city centre and will include homes, retail and leisure facilities. The shopping area will have space for a range of retailers, restaurants and the region’s first purpose-built, fully digital cinema complex.

David Clancy from S Harrison Developments Ltd, who are building the development said:

“Despite tough trading conditions nationally there is interest in the Friarsgate development from a hard-pressed High Street retail sector. It is an indication of the appeal of the city that brand-leading and specialist retailers and restaurant chains are expressing their desire to be a part of the scheme.”

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

“The planned development to Lichfield town centre should give a real boost to the economy of the area. New businesses will feel the benefit of increased footfall to the town centre once the Friarsgate project is complete.”

With a new company numbers reaching record-breaking levels and an exciting city centre development in the pipeline, Lichfield is becoming an increasingly attractive prospect for business start-ups.

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