Recent research from Duport.co.uk has revealed there were a record number of new company formations in Rochdale during the third quarter of the year.
More and more new companies are flocking to set up in Leicester. After a record number of company formations in 2012 and the first half of 2013, the third quarter of the year also saw a record number of new companies registered in the city.
The latest Duport Business Confidence Report for Halifax, West Yorkshire shows there was a rise in company formations over the third quarter of the year. During this period there were 174 new companies registered, representing a 2% rise on Q3 of 2012.
Bradford has seen an increase in the appointment of directors under 25 during the first six months of this year. During this period, the percentage of young director appointments stood at over 7%, compared to a UK-wide figure of 4.9%.
The Duport Business Confidence Report shows that number of young directors in Bradford has been steadily increasing since the first half of 2003, when just 0.12% were under 25. Numbers in the UK have also been increasing since then, although growth in Bradford has been steeper than in the UK as whole.
Bradford's economy is worth £7.6 billion, making it the second largest economy within the Leeds City Region. Regeneration of the city is currently underway, making it more attractive to investors and business start-ups. This could be the reason for a rise in young directors taking the reins of their own new companies.
"Bradford is a vibrant, exciting place to do business, and with the recession making jobs for young people more scarce, it makes sense that under-25s are choosing to become directors of their own companies," said Peter Valaitis, Managing Director of Duport.co.uk.
"The surge in young directors should inject a fresh, forward-thinking attitude into the local business community, which will encourage growth and development in the city."
Not only has Bradford seen an increase in young directors in the first six months of the year, it has also set a record for number of new company registrations in a half year. With positive statistics such as these, it seems clear the city is facing challenging economic conditions with great success.
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