Londonderry Hits Record 6 months for New Companies

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More new businesses have been formed in Londonderry in the first six months of 2012, than in any other six months in history, according to data released by Duport.co.uk.

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With new records for company formations, we can see that the people of Derry are finding new business opportunities and making the most of them.

Londonderry: The Duport Business Confidence Report for Londonderry shows that a total of 162 new companies were formed in the city between January and June 2012. This is a 20% rise on the same six months in 2011, in which 135 new companies were formed.

“As Northern Ireland’s second city, Londonderry is doing its bit to boost entrepreneurship and create economic stability during the recession,” stated Duport.co.uk’s Managing Director, Peter Valaitis.

“With new records for company formations, we can see that the people of Derry are finding new business opportunities and making the most of them.”

Londonderry’s impressive six month record was boosted by a record number of 77 new formations in the second quarter of 2012, but there are other positive headlines to be found in the city’s half year Business Confidence Report from Duport.co.uk.

Londonderry is a popular place for both young and female entrepreneurs, with 6.7% of company directorships given to people under 25 in the first half of 2012, and 29.7% going to women. This compares to UK averages of 4.9% and 23.4% respectively.

“A high percentage of directorships for women and young people reflects a positive and welcoming environment for all entrepreneurs,” said Mr Valaitis, “and with Londonderry outperforming the UK for directorships for women and young people, this shows a very positive outlook for the rest of 2012, and into the future.”

The Duport Business Confidence Report for Londonderry shows us that the city is experiencing a steady period of growth, with records being broken for company formations as well as high proportions of women and young people appointed to directorships. This gives us an overview of a city that is providing a good environment for entrepreneurs and start-ups, making Londonderry a good prospect for future business 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