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net company growth on the up in Newcastle Upon Tyne

October 2012

The Newcastle Upon Tyne economy received a boost during the first six months of the year, with net company growth rising by over 22%. During the January to June period, the company register for the city increased by 390, compared to 318 during the same period in 2011.

The report also shows a sharp drop in net company growth during the first half of 2009, when the recession was at its height. However, figures have been rising since then, thanks to several economic initiatives put in place by the local council. One such initiative was the purchase of the Northern Rock Tower and the leasing of several parts of the building to local companies. This action served to support the local property market, and both save and create jobs.

Newcastle Futures is another innovative economic project, which helps disadvantaged people look for work. About 1,200 people are being helped into work at any one time, with two out of three of these people still employed after 26 weeks. The organisation also helps people deal with the anxiety and stress associated with not having a job.

Managing Director of, Peter Valaitis said:

"There are lots of positive statistics in our latest report for Newcastle Upon Tyne. While historical data shows that the area did suffer during the worst of the recession, quick and decisive action by the local authority has helped the city get back on its feet quickly."

Duport Business Confidence Reports are published quarterly for every area of the UK. The report for Newcastle Upon Tyne provides data on everything from company formation to local naming trends, giving a valuable economic overview of the city.

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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