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Duport report shows mixed results for Dudley economy

The latest Duport Business Confidence Report for Dudley shows there was a decline in company formation in the area last year. However, the report also shows there was a reduction in company closures during the same period, suggesting trading conditions may actually be improving in the town.

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Lincolnshire seaport, Grimsby has seen a 16.4% rise in new company formations over the first half of the year, suggesting a strengthened economy in the town.

Grimsby was once the world's busiest fishing port, but the fishing trade has been in decline since the 1950s. However, the town has remained the centre of the UK's fish processing industry and is home to around 500 food-related companies.

There are currently several regeneration projects planned in Grimsby. Improvements to the town centre, including a new public square and a revamp of existing shops, should get underway early next year. Two listed buildings at Grimsby docks will also be revived and used as an art venue, museum and micro-brewery.

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

"The steady decline of the fishing industry together with the effects of the recession have hit Grimsby hard."

"However, there are some positive statistics in our latest report that hint towards a brighter future for the town, and the planned regeneration projects can only serve to strengthen the local economy."

Duport Business Confidence Reports are designed to give an overview of local economies and include a variety of data, including company formation numbers, net company growth and company naming trends.

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.