Company formation hits record high in Grays reports Duport

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Company formation numbers in Grays hit a record high during the third quarter of 2012, according to research by company formation specialists,

There have been a record number of company formations in Grays

Entrepreneurial spirit is alive and well in the town

The third quarter of 2012 saw 153 new companies registered in Grays, Essex - a 6% rise on the same period in 2011. This figure also represents a new record for companies formed during a third quarter in Grays.

However, company closures also rose during this period, leading to an overall drop in net company growth over the third quarter.

Grays is the largest town in the Thurrock area, and has been identified as a major hub for economic growth. Building upon the presence of many public services and the anticipated development of South Essex College's new Thurrock Campus, Grays is set to become the borough's civic, cultural and educational hub. The development going on in the area could be a contributing factor to the high number of companies that has set up there in recent months.

Managing Director of, Peter Valaitis said:

“The record number of company formations in Grays is a sign that entrepreneurial spirit is alive and well in the town. It is good to see that the tough economic conditions are not putting too many people off starting their own business.”

The Duport Business Confidence Report for Grays uses up-to-date economic data to form a picture of the local business landscape. More information and statistics can be found at

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