2012 record year for company formation in Telford
The latest Duport Business Confidence Report for Telford shows that 2012 was a record year for company formation in the town.
Limited company formation reached a record level in Telford last year, with 603 new companies being formed over the twelve months. This is the highest ever number in the history of the town and a 16% rise on the previous year.
Net company growth also rose over the course of the year, as did the UK company share of the town, suggesting that it is holding its own in the face of difficult economic conditions.
Redevelopment of Telford could be part of the reason behind the surge in new companies. The planned £250 million Southwater development will transform the town centre, providing high quality commercial, community, residential, hotel, leisure and retail space. Eight brands have now signed up to take residence in the development alongside cinema operator Cineworld: Bella Italia, Chimichanga, Harvester, Nando’s, Premier Inn, Pizza Express, Wagamama and Zizzi.
Managing Director of Duport.co.uk, Peter Valaitis said:
“The number of new companies we are seeing in Telford is a fantastic sign for the local economy. The combination of the big brands the Southwater development is attracting and small, independent start-ups should make for a diverse and interesting town centre in years to come.”
