Last year, a record number of companies were newly registered in Manchester. This is according to a Business Confidence Report from Duport, which you can find a link to here.
According to Duport, a total of 10,603 companies were formed in Manchester in 2012. That’s 13.7% higher than in 2011 and compares well to the UK figure of 8.6% growth on the previous year. These new companies are as varied as they are plentiful, from legal practices and advertising agencies to petrol stations and care services. In more good news for the city, its UK company share rose slightly during 2012, suggesting that Manchester is becoming more and more important to the national economy.
I think that this is fantastic news for Manchester, showing that there is still a huge amount of vitality and strength in our local economy. The Managing Director of Duport.co.uk, Peter Valaitis had this to say about Manchester’s brilliant figures:
“Manchester is an extremely vibrant city with a diverse business base that is helping it to prosper in a difficult economic climate. Our report shows that company formation numbers have been rising sharply since 2008.
“With so many new businesses setting up in the area, the city looks likely to become a very popular location for company formation in years to come.”
Regular readers will know that I am a strong supporter of our city’s growth. Recently, I blogged about the rise in apprenticeships in Manchester, providing hundreds of young people with the skills and experience they need to one day think of starting their own successful companies. I’ve also written about the Lib Dems’ top 10 achievements in government so far, including our creation the Green Investment Bank to unlock billions of pounds of private investment creating thousands more green jobs in Manchester and lots of other measures to boost jobs and growth across the UK like our expansion of the High Speed Rail improvements.
These figures from Duport make for some encouraging reading. They show that Manchester has masses of innovation and potential that need supporting and nurturing, not stifling with higher taxes, unnecessary cuts and irresponsible spending practices by the City Council! I’m excited to see the progress that these companies can make in the next few years, growing and improving as they go. But who knows; perhaps 2013 can be another record year?