Record Q2 for High-Performing Cambridge

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Cambridge has seen a record number of new companies formed during the second quarter of 2012, according to research by company formation experts Duport.co.uk.

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The broad base of the economy and the world-famous tourist attractions are key factors in its success.

Cambridge: The Cambridge economy received a boost during the last quarter with a record number of new company registrations. There were 422 new companies formed during Q2, beating the previous record of 415 that was set in Q2 of 2011.

While other UK cities are struggling in the face of the recession, a recent report claims that Cambridge has suffered the least from the downturn. The report, released by the Centre for Cities think tank, reveals that Cambridge came top in six out of 15 measures of success, including the smallest rise in Jobseekers’ Allowance claimants since the recession began and the lowest level of youth unemployment.

Cambridge has a diverse economy with strength in sectors such as research and development, software consultancy, high value engineering, creative industries, pharmaceuticals and tourism. With 4.6 million visitors a year, tourism generates over £334 million for the city's economy and provides employment for over 6500 people.

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

“Cambridge is a centre for tourism, but also has a strong science, research and development sector. The broad base of the economy and the world-famous tourist attractions are key factors in its success. With such a strong economy, it’s no surprise that a record number of new companies have decided to set up there.”

Thanks to a unique and powerful set of businesses assets, the economy in Cambridge looks set to go from strength to strength – good news for new companies deciding to locate 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