Record number of new companies across Newcastle

A record number of new companies were registered in Newcastle in the first half of 2013, according to analysis by Duport.

1182 companies were formed during the period, more than any other half year in the history of the city.

The numbers have been climbing out of a steep decline since the onset of the financial crisis.

There was also a slight rise in company closures over the six months, however, net company growth actually rose to 425, compared to 390 during the same period in 2012.

Duport managing director, Peter Valaitis, said: “The record number of company formations suggests business confidence is returning to Newcastle Upon Tyne, as more and more companies choose to set up there. The increasing diversity of the business base should help protect the area from future economic shocks.”