SW Sees Fall in New Company Formations

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Total down almost 8 per cent, according to new figures from Jordans

The number of new companies formed in the South West this financial year was down almost 8 per cent on the previous 12 months.

The drop from 28,190 to 26,026 was revealed today by corporate services firm Jordans as part of new research showing that all but two areas of the UK – the North of England and Scotland – experienced a decrease.

The Jordans research covered the BA, BH, BS, DT, EX, GL, PL, SN, TA, TQ and TR postcodes.

Across Britain the number of new businesses created was 70,000 fewer this financial year than in the previous 12 months – a fall of 16 per cent in the twelve months to April.

Paul Townsend, Director of Corporate Services at Jordans, said the figures suggest that the slowdown began around September and coincided with the first effects of the credit squeeze.

He said there was a mixed picture for 2007-08 compared to the almost universal rises of the previous year, when a 20 per cent rise took the total to almost 470,000. Much of the increase that year was due to the change in the Government’s tax treatment of managed service companies, many of whom formed private limited companies instead.

“Although there was a 7.7 per cent fall, new enterprises were formed in the South West at a rate equivalent to about 2,169 a month,” said Paul Townsend.

“There is obviously more caution amongst entrepreneurs but at this stage there are still considerable numbers of people willing to take a chance and form their own company.”


ENDS

Note to editors

  • Jordans Limited has been providing professional business services for over 140 years. These services now include company formations and administration in the UK and internationally, business information and conveyancing support.
  • Jordans have been offering company formations for all of its 140 years. As well as forming all types of companies, they provide software – Incorporator – for clients who undertake volume formations and PCSec, a software package which helps company secretaries administer their companies.
  • Jordans have been providing international corporate services for many years. With offices in Bristol, London and five offshore locations (Jersey, Gibraltar, Cyprus, British Virgin Islands and Seychelles) Jordans Ltd is able to provide full UK and international support for their clients. International services include setting up UK or offshore companies and trusts, company management and professional trusteeship.
  • Jordans’ business information services include company searches, data sales (either large or small batches of data on companies and directors) and three branded products – JordanWatch, a database of information and reports on companies, NameGuard, a company name-watching service, and KYC (Know Your Client) Reports used for anti-money laundering information.
  • Jordans Limited has been in the property search business for 30 years and has been offering online search ordering for several years. Their service spans more than 70 different searches, ranging from all the standard searches, including local authority, drainage and environmental, to the many special requirements for individual properties and localities, such as searches for mining, transport and chancel repair.
  • Jordans has over 100 years of conveyancing experience and is one of only three National Land Information Search channels providing local authority searches electronically. The company offers a comprehensive HIPs package, delivering all elements of the pack efficiently and within the quickest possible time.
  • Jordans are committed to providing a first-class service and enjoy a reputation for quality, reliability and professionalism.

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