New companies are having a tough time starting up in Milton Keynes, according to a new business confidence report.
After a record year for company formation in the new city in 2012, it seems some firms may not have made their first anniversary.
The Duport Business Confidence Report has revealed both a drop in new company formations during the first half of the year and an increase in company closures.
Company formation numbers fell by 3 per cent in the six months to June. Company closures rose by 30 per cent, leading to an overall drop in net company growth.
Peter Valaitis, managing director of Duport.co.uk, said: “Although the UK is emerging from recession, the figures we are seeing in Milton Keynes remind us that trading conditions are still far from perfect.
“However, I have no worries about the economy of the area - excellent transport links and a diverse business base should help it flourish as the national financial climate improves.”
The report also reveals a slight drop in the UK company share of the area, after having been on the rise every first half of the year since 2010.
More information and statistics can be found at http://www.duport.co.uk/miltonkeynes.
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 UK company formation agent, established in 1997 and registering around 10,000 new companies each year.