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net company growth booms in Sheffield

October 2012

Sheffield has seen a 38% increase in net company growth during the first half of 2012. The company register increased by 615 between January and June, compared to 447 during the same period in 2011.

Sheffield is the fourth largest city in the UK, and a recent survey showed that it is the fastest growing city outside London for office and residential space. The UK Cities Monitor 2008 placed Sheffield among the top ten "best cities to locate a business", a fact which is backed up by this year's rise in net company growth.

In 2011, Sheffield city centre became a government enterprise zone. Businesses setting up there are now offered a package of financial, planning and support incentives. These include valuable capital allowances and Business Rate Relief schemes for small businesses, as well as simplified planning procedures and access to super-fast broadband.

"Sheffield is an exciting place to set up a business, and the rate of net company growth shows that it is becoming more and more popular as a location for start-ups," said Managing Director of Duport, Peter Valaitis.

"Our latest report shows many more positive statistics for the city, including some record-breaking months for company formation."

Duport Business Confidence Reports are published quarterly for every area of the UK. The report for Sheffield gives an economic overview of the city, providing data on everything from company closures to information on director age and gender.

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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