New start-ups in York reach record numbers

New start-ups in York reach record numbers

New start-ups in York reach record numbers

First published in Business news York Press: Photograph of the Author by , Business editor

A RECORD number of businesses were started in York in the third quarter of 2013 as confidence in the city’s economy remains high.

According to newly-published research, York broke its own record for the number of new companies set up in the third quarter of last year, with 388 new companies formed in the area The figure was more than any other third quarter on record for the area and a ten per cent rise on the same period in 2012.

Company formation numbers have been rising every third quarter since 2009, suggesting that business confidence remained comparatively high during and after the recession.

Mike Everitt, a business support specialist at Business Support York and North Yorkshire (BSYNY) which helps start up firms with mentoring and access to finance, said: “Confidence in starting a business in York remains high with many people choosing self-employment as an option.

“Many York people have a positive attitude when it comes to business and this is supported by various schemes such as the New Enterprise Allowance through Job Centre Plus and access to finance that helps underpin the business idea.

“Our experience at BSYNY is that York is doing its bit to help economic growth both locally and nationally.”

The start-up figures for York have been produced in the latest Duport Business Confidence Report, which analyses public record data from sources including Companies House, the Office for National Statistics and the Ordnance Survey.

The report also shows that York’s net company growth, which is the number of company formations, minus the number of company closures, also rose during the third quarter of 2013.

Peter Valaitis, managing director of Duport.co.uk, said: “York has such a lot going for it, from high visitor footfall to excellent transport links, so it’s hardly surprising we are seeing a growing number of company formations here.

“More new companies will diversify the business base, helping strengthen the local economy still further in future.”

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