A New Record for Business Start-Ups in Barnet

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Barnet has seen a record-breaking number of new company formations during the second quarter of the year, according to data analysed by company formation experts, Duport.co.uk.

New business is growing Barnet

Barnet already has a high number of small and medium businesses, and seems to be becoming something of a hub for start-ups.

Barnet: Companies House data analysed by Duport.co.uk has revealed a record-breaking number of new company formations during the second quarter of the year in Barnet. There have been 285 new companies formed, more than any other second quarter on record for the area. The figure represents an improvement on 2011’s second quarter figure of 280.

The economy in Barnet is dominated by small and medium sized businesses and has a higher proportion of self-employed residents than London as a whole. Residents are also more likely to have a higher level of education than the average for London. The economy of the area is solid, with lower unemployment rates than the average for Outer London.

The four largest housing estates in Barnet are currently undergoing regeneration. Amongst these are Cricklewood, where £4.5 billion is being spent by the council to “create a new gateway for London and a vibrant urban area in Barnet.” West Hendon is also on the regeneration list, with proposals to build an integrated community and replace the existing estate with new mixed-tenure housing, a new town square, improved transport links and a range of new community facilities.

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

“Barnet already has a high number of small and medium businesses, and seems to be becoming something of a hub for start-ups. With a healthy economy and links to Central London, this is an excellent area to form a company.”

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