Pinner has long been thought of as one of the most affluent areas of London, but the rise in company closures shows that it is not immune to difficult economic conditions
Pinner, London (PRWEB UK) 31 January 2013
There was a rise in company closures in Pinner during the third quarter of last year, according to figures published in the latest Duport Business Confidence Report.
Between July and September, there were 134 company closures. This figure represents a 13% rise on the same period in 2011.
Company formation also fell during Q3. There were 162 companies formed, compared to 169 during the third quarter of 2011. The combination of a rise in company closures and a fall in company formation led to an overall reduction in net company growth.
Managing Director of Duport.co.uk, Peter Valaitis commented:
“Pinner has long been thought of as one of the most affluent areas of London, but the rise in company closures shows that it is not immune to difficult economic conditions.”
“However, with a high-earning population and excellent transport links to the city, I suspect company formations will rise again in the coming year.”
The Duport Business Confidence Report for Pinner gives an insight into the local economy, using accurate, up-to-date economic data. More information and statistics can be found at http://www.duport.co.uk/pinner.
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.