Company closures in Stourbridge have fallen by 10% in the first six months of the year. There were 144 closures between January and June, compared to 160 during the same period in 2011. Further information on company closures can be found in the full Duport Business Confidence Report at http://www.duport.co.uk/stourbridge.
Stourbridge town centre is currently undergoing a period of regeneration, which could be the reason behind the drop in company closures. The regeneration plan includes new pathways alongside the River Stour and pedestrian crossing points on parts of Stourbridge ring road to help make the town centre more accessible.
New green space is proposed alongside the banks of the River Stour to encourage wildlife, create an attractive green landscape and promote outdoor recreation such as walking and cycling. There will also be improvements to the Stourbridge Wharf area, with improved visitor facilities and a focus on canal-based tourism.
Managing Director of Duport.co.uk, Peter Valaitis said:
“Stourbridge has suffered during the recession - our report shows company closures reached an all-time high in the first half of 2009. However, the regeneration projects that are underway seem to be having a positive effect, and the 10% drop in closures is great news for the local economy.”
Duport Business Confidence Reports are published quarterly for every area of the UK. The report for Stourbridge provides an overview of the town’s economy and includes data on company formations, net company growth and company naming trends.
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.