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The latest Duport Business Confidence Report for Hemel Hempstead has shown a significant reduction in company closures over the first quarter of the year.

Between January and March, 127 companies were dissolved in the area, representing 21% reduction on the previous year. This also puts Hemel well ahead of the UK as a whole, which experienced a 6% rise in closures over the first quarter.

The report also shows an 8% rise in company closures, which led to an overall increase in net company growth (the number of company formations minus the number of company closures).

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

"The first quarter yielded some very positive results for Hemel Hempstead. Falling closures and rising formations are a fantastic sign for the local economy."

The Duport Business Confidence Report for Hemel Hempstead contains a range of data and statistics, from company formation numbers to new company naming trends. More information can be found at http://www.duport.co.uk/hemelhempstead.

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.