Recent research from Duport.co.uk shows there was a rise in company closures in Wirral during 2013, with 597 companies closing over the course of the year.
2013 saw a surge in company formations in Swansea, according to a new economic report from Duport.co.uk.
Derby smashed its own record for company formation during 2013, according to the latest Duport Business Confidence Report for the area.
West Bromwich is one of Britain’s most successful towns in producing young entrepreneurs, according to figures released by formations experts Duport.co.uk.
Of the 205 company directors appointed between January and June 2012, 22 were under the age of 25, a proportion of 10.7%. This is nearly 80% higher than the UK average, which stands at only 6.06%.
“In the current economic climate, we’re hearing a lot about youth unemployment and young people really struggling to get on to the career ladder,” stated Peter Valaitis, managing director of Duport.co.uk, “This is why it is so heartening to hear that West Bromwich has such a high proportion of young directors.”
Youth unemployment and the number of young graduates unable to find suitable work is one of the key issues of the double-dip recession. It is often said that a period of joblessness during your youth has massive knock-on effects for the rest of your life, leaving many concerned that the UK will suffer from a “lost generation” of young people unable to live up to their full potential.
Official data released by the Office for National Statistics in August shows that the unemployment rate for people aged 16 to 24 was 21.5% for the three months to June. This is actually a small decrease from the figure of 21.8% for the three months to March.
With unemployment actually rising in the West Midlands between April and June 2012, the new data showing a high proportion of young directors is a welcome sign of future recovery for West Bromwich.