Huntingdon net company growth fell in third quarter reports Duport

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Net company growth fell during the third quarter of 2012 in Huntington, according to data in the latest report from company formation specialists, Duport.co.uk.

Young directors are on the rise in Huntingdon

Ongoing development of the area by the local authority, plus a rise in the number of directors under 25 could go a long way to generating growth in 2013

Huntingdon: Figures in the latest Duport Business Confidence Report show that between July and September 2012, net company growth in Huntingdon fell to 43, compared to 64 in the third quarter of 2011.

Interestingly, the number of company formations stayed exactly the same when comparing the third quarters of 2011 and 2012. However, the number of company closures rose - leading to the drop in net company growth.

The report also shows a drop in UK company share. However, numbers of young director appointments are rising, suggesting that entrepreneurial spirit is alive and well in the town.

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

“The statistics in our latest report suggest that Huntingdon is still feeling the effects of the recession.”

“However, ongoing development of the area by the local authority, plus a rise in the number of directors under 25 could go a long way to generating growth in 2013.”

The Duport Business Confidence Report provides detailed statistics and economic data that give an overview of the local economy of Huntingdon. More information can be found at http://www.duport.co.uk/huntingdon.

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