Swindon has seen a record-breaking number of new companies being set up in the first half of the year, according to Companies House data analysed by company formation experts, Duport.co.uk.
Despite tough economic conditions, there have been 759 new companies formed in Swindon during the first six months of 2012. This beats any first half of the year on record and represents a 14% increase in the number of new companies formed during the same period in 2011.
Not content with this record-breaking performance, the town is also chasing £24m of funding to become a “future city”. The council will receive £50,000 from the Government’s Technology Strategy Board to complete a feasibility study which will show how the town’s transport, communications and other infrastructure can be integrated to improve the local economy, increase quality of life and reduce impact on the environment. The study will look at the potential of integrating three key projects around hydrogen, district energy and 4G wi-fi.
Whether the town wins future city funding or not, the Local Enterprise Partnership is focussed on growing business in the area. Key targets for the partnership to achieve by 2015 include the creation of 10,000 new private sector jobs, supporting business start-ups and attracting inward investment.
Managing director of Bristol-based Duport, Peter Valaitis said: “Swindon should be very pleased with the record number of new companies being set up in the first half of the year. The area is obviously attractive to new businesses and if successful, they will bring increased wealth and employment to the town.”
With a growing economy and a chance of £24m in funding, new companies have picked the right time to set up in Swindon.
