More new companies will diversify the business base of the city, helping it become more prosperous and protecting it from future economic shocks
Glasgow, Lanarkshire (PRWEB UK) 27 February 2013
2012 was a record-breaking year in terms of company formation in Glasgow. There were 6807 new companies formed, making it the most successful year for company formation in the history of the city.
Not only was the figure an all-time high for Glasgow, it also represented an 8% rise on 2011. Company formation in the city has now been rising steadily since 2008, suggesting that the area is fighting back against the effects of the recession.
In response to the global economic crisis, the Glasgow Economic Commission reviewed the city’s Economic Strategy in 2010 and produced a report detailing ways in which the city could move forward. The report came up with several recommendations, including increasing engagement in the global economy, improving the skills and qualifications of the workforce and improving the level of business start-ups and innovation.
The implementation of these recommendations could be behind the rise in company formations in recent years.
Managing Director of Duport.co.uk, Peter Valaitis said:
“As Scotland’s largest urban economy, Glasgow is extremely important to Scotland and the UK as whole, so it’s great to see so many new company formations there.
“More new companies will diversify the business base of the city, helping it become more prosperous and protecting it from future economic shocks.”
The Duport Business Confidence Report for Glasgow contains detailed, accurate data that gives an insight into the city’s business landscape. More information and statistics can be found at http://www.duport.co.uk/glasgow.
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.