Barking Smashes Record for New Companies

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Barking has seen a record number of new companies formed during the last quarter, according to data uncovered by company formation experts,

The Olympics has helped business in Barking

The Olympics has been the catalyst that Barking needed to regenerate.

Barking has had a promising second quarter, with more new company formations than any other second quarter on record for the area. There have been 223 new companies formed, smashing the previous second quarter record of 162 that was set in 2010.

With the recent focus on East London for the Olympics and Paralympics, the local council are promoting the borough as “London’s newest opportunity”. The plan is to attract new business and investment to the area in the wake of the Games.

Benefits of the area include cheap brown field sites and undeveloped stretches of riverside. The area is also home to the London Sustainable Industries Park (LSIP), the UKs largest concentration of environmental industries and technologies.

Barking is on the up in the housing market too, with plans for the Barking Riverside project to provide over 10,000 homes of different styles, sizes and tenures. The development will provide services, facilities and open space to make it a truly sustainable community.

Managing Director of, Peter Valaitis said:

“The Olympics has been the catalyst that Barking needed to regenerate. With so much development and positive press for the area, it’s no surprise that we have just seen a record second quarter for company formations.”

The Olympics may have set the ball rolling in Barking, but the economy of the area looks to be picking up a momentum all of its own.

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