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company closures rising in Wirral

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Derby smashes record for company formation

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company closures decreasing in Leicester

September 2012

During the first six months of the year, Leicester has experienced a drop in the number of companies being closed. There were 1072 company dissolutions, compared to 1142 in the same period last year, representing a 6.1% reduction in closures.

According to data in the Duport Business Confidence Report, the rate of company closures in Leicester was fairly constant between 2003 and 2008. Then, as the recession began to deepen in 2009, closures reached an all-time high of 1810 during the first six months of the year.

As company closures peaked during the first half of 2009, so net growth of new companies fell drastically during the same period. However, company growth is now on the rise in Leicester, with 766 new companies being registered in the first half of this year, a rise of 48.2% when compared to the same period last year.

The report contains further good news for the area in terms of company growth - the first half of 2012 saw more new company registrations than any other half year in the history of the town. April and May also saw more new company registrations than any previous April or May on record.

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

"With company growth on the up and company closures decreasing, it looks like Leicester is bearing up in the face of tough economic conditions.

"The record number of company registrations in the first half of the year is fantastic news for the city and bodes well for the rest of the year."

Although it is clear from the data in Duport's report that Leicester has had some difficult times in recent years, the latest statistics suggest that the town has weathered the economic storm and looks set for a bright future.

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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