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net company growth on the rise in Folkestone

October 2012

The first half of the year saw a rise in net company growth in Folkestone, suggesting a revitalised economy. The latest Duport Business Confidence Report for the area shows that the company register grew by 32 during this period, compared to a decrease of 98 in the first half of 2011.

Folkestone has emerged from a long period of decline with a successful regeneration project that centres around the town's Creative Quarter. Over the past few years, the Creative Quarter has become home to a thriving collection of studios and businesses, offering aspiring artists and retailers a chance to become a part of the local business community. There are currently over 100 tenants, employing 280 people.

The regeneration of the town is pulling in more visitors than it has seen in decades. The most recent official survey of the value and volume of Shepway tourism, covering 2009, showed that it had grown significantly since the one carried out three years earlier.

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

"Tourists are once again starting to fall in love with Folkestone, thanks to the positive effects of ongoing generation."

"As visitor numbers grow, so will the local economy. I expect that the rise in net company growth we have seen in the first half of this year will continue into next year and beyond."

The Duport Business Confidence Report for Folkestone provides an overview of the town's economic performance and includes both current and historical data.

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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