Company numbers soar in Edinburgh

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Edinburgh has experienced net growth of 1,407 companies in the first six months of 2012, the largest figure in any six months since records began, according to the Business Confidence Report from by Duport.co.uk.

Edinburgh businesses

It’s incredibly encouraging not just to see so many new companies being formed in Edinburgh, but also staying open.

Edinburgh: This result was driven by a record number of new companies being formed in the city between January and June 2012. Edinburgh saw 2,769 new businesses formed during this time, which is an 18% increase on the figures for 2011 and is the highest number of new company formations for any six months on record.

The Duport Business Confidence Report uses public data from Companies House, Ordnance Survey and the Office for National Statistics to create an accurate picture of the business environment in Edinburgh between January and June 2012.

“The picture for Edinburgh is looking very positive,” stated Duport.co.uk’s managing director, Peter Valaitis. “It’s incredibly encouraging not just to see so many new companies being formed in Edinburgh, but also staying open.”

“With the highest net growth of businesses on record, Edinburgh is looking set to develop and grow its economy despite the double-dip recession.”

Alongside the increase in formations, there has also been a slight increase in company dissolutions between January and June 2012, compared with the same six months in 2011, however this increase has been far outweighed by the number of companies formed.

Edinburgh is also increasing its UK share of companies, which has been boosted by its new record in company formations. In the first half of 2012, 1.1% of all new UK company registrations were made by businesses in Edinburgh. This figure has been steadily increasing over the last five years from 0.8% in the first half of 2008.

The first half of 2012 has been incredibly positive for the businesses of Edinburgh, with new records for company formations and net company growth.

Duport Business Confidence Reports are generated and released by Duport Associates Ltd. The data contained in these reports is assimilated and analysed by Duport using public record data from sources including Companies House, Office for National Statistics and Ordnance Survey. Duport Associates Ltd is a leading UK company formation agent, established in 1997 and registering around 10,000 new companies each year through its Companies House approved software.

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Tom Valaitis