Surge in company registrations in Bath

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Bath has seen a surge in new company registrations during the first six months of 2012, according to data released in the latest Duport Business Confidence Report.

Bath Abbey and Roman Baths

With the number of new company formations on the rise and company closures falling, it seems that Bath is weathering the economic storm with considerable success.

Bath: There has been a record number of new company registrations during the first half of the year in Bath. There were 466 new companies formed during this period, beating any other half year on record for the town and representing a 14.4% rise when compared with last year’s figure.

As well as a rise in the number of company registrations, there has also been a slight dip in the number of company closures during the first half of the year. There were 238 company closures, compared to 241 during the same period in 2011. Company closures reached an all-time high in 2009, when 396 companies were dissolved during the first half of the year.

Bath once had an important manufacturing sector, but manufacturing is now in decline in the city. Strong software, publishing and service-oriented industries have taken over as the main providers of employment in the area. Tourism is also important to the economy, with more than one million staying visitors and 3.8 million day visitors coming to the city on an annual basis

“Bath has always been a prosperous town, but it hasn’t been immune to the effects of the recession, as we can see from the record number of company closures that occurred in 2009.

“However, with the number of new company formations on the rise and company closures falling, it seems that Bath is weathering the economic storm with considerable success.”

With growth in forward-thinking industries and a long-standing appeal to tourists, Bath looks set for a future that is economically sound - making it a great location for new businesses to set up.

More information and statistics can be found here http://www.duport.co.uk/bath.

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