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new companies boost Birmingham economy

October 2012

More new companies are choosing to set up in Birmingham, according to a report from leading company formation agents The Duport Business Confidence Report for the city shows 5425 companies were set up between January and June, representing a 14% rise on the same period in 2011.

Birmingham has the second largest economy in the UK, with an annual turnover of around £2 billion. The majority of its employment is in the service sector, and with major facilities such as the International Convention Centre and National Exhibition Centre, Birmingham accounts for 42% of the UK conference and exhibition trade.

The rise in company formations could be linked to last year's announcement that Birmingham would become an Enterprise Zone. The city now offers simplified planning, discounts on business rates, and new opportunities to fund infrastructure and roll out superfast broadband. There is also a variety of support and advice available to business start-ups in the area.

Managing Director of, Peter Valaitis said:

"The rise in new company formations shows that entrepreneurial spirit is thriving in Birmingham, which is heartening news in the face of tough economic conditions."

"As the second largest city in the UK, Birmingham is hugely important to the national economy, so the rise in company formations is good news for the country as a whole."

The Duport Business Confidence Report for Birmingham contains economic data and statistics that provide an overview of the city's business landscape.

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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