Duport discovers Southampton smashing records for new company formations

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The annual Duport Business Confidence Report for Southampton reveals that 2012 was a record year for company formations in the city.

Southampton Civic Centre

Our latest report shows a very positive trend for business start-ups in Southampton, with numbers rising every year since 2008.

New research released by company formation agents, Duport.co.uk shows there were a record number of company formations in Southampton during 2012.

There were a total of 2304 new companies formed over the course of the year - the highest year on record for Southampton and a 4% rise on the previous year.

The city opened WestQuay, one of the UK’s largest shopping centres in 2000, and development of the city has been ongoing ever since. Watermark WestQuay is the next stage of the development, and will include shops, housing, a hotel and a public piazza alongside the Town Walls. In addition, planning consent has recently been granted for a regeneration project in East Street, which will involve the demolition of the existing empty East Street shopping centre and the restoration of links between St Mary’s and the city centre.

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

“Our latest report shows a very positive trend for business start-ups in Southampton, with numbers rising every year since 2008. It’s also great to see that company closures fell during the year, suggesting trading conditions may be improving in the city.”

The full Southampton Business Confidence Report contains more data and statistics that give a fascinating insight into the local economy. It can be found at http://www.duport.co.uk/southampton.

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