Southend-on-Sea company closures on the rise reports Duport

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The third quarter of 2012 saw a rise in company closures in Southend-on-Sea, according to figures in the latest Duport Business Confidence Report for the area.

Beach huts at Thorpe Bay

Like the rest of the UK, Southend-on-Sea is suffering from the effects of a double-dip recession

During the third quarter of last year, there was a steep rise in company closures in Southend-on-Sea, according to recent research from company formation specialists, Duport.co.uk.

Between July and September, company closure rose to 199, representing a 55% increase on the same period in 2011. Company formation also fell by 10% during this period, leading to a dramatic drop in net company growth overall.

The report also shows a reduction in the UK company share of Southend-on-Sea and a drop in the appointment of female directors. However, the percentage of young director appointments actually rose during the third quarter.

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

“Like the rest of the UK, Southend-on-Sea is suffering from the effects of a double-dip recession.”

“However, its seafront attractions and healthy tourist trade, not to mention its proximity to London, should go a long way to helping the town overcome the current economic challenges.”

The Duport Business Confidence Report for Southend-on-Sea provides accurate, up-to-date data that gives an insight into the local economy. More information and statistics can be found at http://www.duport.co.uk/southendonsea.

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