The drop in company formations seen in our report is a symptom of the tough economic conditions we are seeing throughout the UK
Cheadle, Greater Manchester (PRWEB UK) 18 January 2013
Figures revealed in the latest report from company formation specialists, Duport.co.uk show that company formation in Cheadle dipped between July and September last year.
During this period, there were just 93 company formations in the area. This figure represents a 30% decrease in formation when compared with the same period in 2011.
Although company closure levels fell slightly during the third quarter, the drop in new company formations led to a decrease in net company growth.
However, the local authority are looking to strengthen Cheadle’s economy with their Town Centre Masterplan. The aims of the plan are to redevelop underused land and property to create employment opportunities, increase resident and visitor expenditure, and to define the town's role as a service and retail hub.
Managing Director of Duport.co.uk, Peter Valaitis said:
“The drop in company formations seen in our report is a symptom of the tough economic conditions we are seeing throughout the UK.”
“However, the local authority is taking action to improve Cheadle’s prospects with the Town Centre Masterplan. Investment in the town should help to attract new business and increase the number of company formations as the year progresses.”
The Duport Business Confidence Report for Cheadle contains a wealth of information that can be used to analyse the local economy. More information can be found at http://www.duport.co.uk/cheadle.
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.