• Latest research confirms Peterborough as business hotspot

LAST year saw a record number of company formations in Peterborough, according to a new report from company formation specialists, Duport.co.uk.

New research from Duport.co.uk reveals that company formation rose to a record high in Peterborough during 2012. Between January and December, there were 1381 new limited companies registered – more than any other year on record for the city and a 17 per cent rise on the previous year.

The Duport report also shows that net company growth in Peterborough outstripped the national average last year, and that the UK company share of the city rose for the second year running.

Peterborough has previously been identified as one of the country’s ‘hotspots’ for new businesses. In the last year, Royal Sun Alliance, Amazon, Tesco, Van Hage and the Stobart Group have either set up in the area or expanded their existing operations. The local council is also working hard to attract smaller business and independent retailers – which could be behind the boom in new company formations.

Peter Valaitis, managing director of Duport.co.uk, said, “Peterborough is extremely well-placed, with easy links to London and the rest of the country. This makes is a great choice for large and small businesses alike.

“The record number of new company formations is a promising sign for the local economy, and I expect we will see many of these start-ups grow and flourish in years to come.”

The Duport Business Confidence Report for Peterborough provides fascinating data that can be used to gain an insight into the local business landscape. More information and statistics can be found at http://www.duport.co.uk/peterborough.