Braintree Sees Surge in New Companies

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Essex town, Braintree has seen a record number of new companies formed in the second quarter of 2012, according to research by company formation agents Duport.co.uk.

Redevelopment of Braintree is planned

The recent surge in new company registrations could well be due to new businesses wanting to reap the benefits of the proposed redevelopment of the town centre.

Braintree: The second quarter of the year has been a promising one for Braintree, with a record number of new company formations in the area. There have been 127 new companies set up, more than any other second quarter on record. This figure shows a significant improvement on the previous record of 99 that was set in the second quarter of 2011.

Plans are in the pipeline for a redevelopment of the town centre, after the local council recently signed up developer Henry Boot to carry out the project. Henry Boot will invest £14 million into the scheme, which could see new shops, restaurants, cafes, a 60 bed hotel and a 250 space multi-storey car park build on land behind the town centre.

There has been opposition to the plans with 4000 people signing a petition against the development, but the project looks set to go ahead.

Councillor Lady Patricia Newton, Cabinet Member for Prosperity, said:

"The regeneration of land behind the town hall will be a key part of our wider plans to boost the fortunes of the whole of the town and ensure it has a wide commercial and cultural appeal to attract more visitors, shoppers and businesses to Braintree for a sustainable and healthy future."

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

“Braintree could see a real boost to the economy if plans for the new development go ahead. The recent surge in new company registration could well be due to new businesses wanting to reap the benefits of the proposed redevelopment of the town centre.”

With redevelopment looking likely and business start-ups flocking to the area, hopes are high for the future economy of Braintree.

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