Net growth surges to record high in Edinburgh

The first half of the year saw Edinburgh achieve a record high in terms of net company growth, according to new research by Duport.co.uk

The latest Duport Business Confidence Report reveals that net company growth (the number of company formations minus the number of company closures) reached a record high during the first half of the year in Edinburgh.

The six months to June saw net company growth of 1545 – more than any other first half of the year in the city and a healthy increase on the previous year.

The rise in net company growth is due to a record number of company formations and a slight drop in company closures.

The positive figures seen in the Duport report follow on from news that work on the £150 million Caltongate development could start as early as Spring 2014. This complex, boasting a mix of office, leisure and retail space, is expected to generate 2500 jobs and an annual turnover for the area of £84m.

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

“With the new Caltongate development due to start next year, these are exciting times for Edinburgh. The number of companies choosing to set up here reflects what a dynamic, vibrant city this is – the perfect place for a new business to flourish.”

The Duport Business Confidence Report for Edinburgh uses data and statistics to give an insight into the local economy of the city. More information can be found at http://www.duport.co.uk/edinburgh.

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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