Net company growth on the rise in Reading reports Duport

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A new report from company formation specialists Duport.co.uk shows that there was a significant rise in net company growth in Reading during 2012.

George Street Bridge, Reading

Our latest report shows a mixed bag of results for Reading, with falling company formation and rising net company growth.

The annual Duport Business Confidence Report reveals that net company growth rose sharply in Reading last year. The company register soared from -388 during 2011, to 495 during 2012.

Net company growth had been in minus figures for the last three years, and was at its highest in 2009, when net company growth stood at -3164. The move into positive figures could signal the beginning of Reading’s economic recovery.

However, company formation numbers actually fell by 3% during 2012 - it was a drop in company closures that led to the rise in net company growth. In addition, the UK company share of Reading fell for the fourth year running.

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

“Our latest report shows a mixed bag of results for Reading, with falling company formation and rising net company growth.

“However, the city has many assets, including several UK headquarters, excellent transport links and an outstanding retail offering. These factors should provide jobs and help protect the future of the local economy.”

The Duport Business Confidence Report for Reading contains a wealth of data and statistics that provide a snapshot of the local business landscape. More information can be found at http://www.duport.co.uk/reading.

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