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healthy increase in net company growth for Southall

July 2014

The first quarter of the year saw a significant increase in net company growth in Southall, according to a new economic report from company formation agents, Duport.co.uk.

Over the three months, net company growth (the number of formations minus the number of closures) stood at 107, compared to 60 during the same period in 2013. This rise is due to the combination of a 14% increase in formations and a 10% reduction in closures.

The positive figures in the report could be linked to extensive regeneration projects that are currently going on in the area. The redevelopment work includes upgrading Southall's streets, relocating the library and extending the Dominion Arts Education centre.

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

"The increase in net company growth we have seen in Southall bodes well for the future of the local economy. More new companies and less closures suggest trading conditions are improving in the wake of the recession."

The Duport Business Confidence Report for Blackburn provides a range of data to give an insight into the local economy. More information and statistics can be found at http://www.duport.co.uk/blackburn.

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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