Market Overview

Number of company formations in York reaches record level


Company formations in York rose to a record level during the first three months of 2012, according to data released in the latest Duport Business Confidence Report.

UK (PRWEB UK) 24 October 2012

York: The number of company formations in York in the first quarter of the year reached an all-time high. During this period, there were 409 new company registrations, beating any other quarter on record for the city. More company formation data is available in the full Duport Business Confidence Report at

The economy of York is based around the services industry, with the local council being the city's largest employer. Tourism is also very important to the town, generating more than 10,000 jobs. In 2009, the tourism industry bought in a total of £422 million to the city.

Tourism in York does not seem to have been affected by the recession. This could be due to an increase in British people choosing to holiday in the UK rather than go abroad. York has also benefited from money spent on national and international advertising by Welcome To Yorkshire, formerly the Yorkshire Tourist Board. In 2010, the organisation put up £30 million to spend on marketing the region over the next three years.

Managing Director of, Peter Valaitis said:

“York is a one of the most visited cities in the UK, and rightly so. The history and culture of the town attracts visitors year after year, making the tourist trade very important to the economy of the area.

“The record number of new businesses set up in the first quarter of the year should broaden the tourist offering of the town, making it even more attractive to visitors.”

Duport Business Confidence Reports are published quarterly for every area of the UK. The report for York gives an economic overview of the city, providing data on everything from company closures to average director age.

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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