Number of new Blackburn firms on increase (From This Is Lancashire)

Number of new Blackburn firms on increase

7:00pm Monday 24th September 2012 in News

BLACKBURN has had its most successful second quarter ever in terms of net growth in number of new company formations.

Net company growth for the town during the second quarter of 2012 was 107 companies.

Not only is this the highest ever net growth on record for a second quarter in Blackburn, it also represents an increase of 23 per cent on the same period last year.

Further good news for the town came in April, when a record 74 new company registrations topped all previous records for that month.

Not only are many new companies opening up, the first half of the year showed a drop in company closures, with 238 closures during this period.

This figure represents a 20.9 per cent decrease on the previous year.

The highest ever number of company closures in the first half of a year was in 2009, when 419 companies were dissolved.

Managing director of Duport.co.uk, Peter Valaitis said: “The combination of a net growth in new companies and a drop in company closures is a very positive for Blackburn.”

“The town experienced a record number of company closures at the height of the recession in 2009, but since then closures have been dropping steadily as new company numbers have risen.”