Figures from the latest Duport UK business confidence report showed that more start-up companies opened in Gloucester, indicating a positive economic future for the city.
London, England, UK., May 2, 2014 - (PressReleasePoint) - The recently released business confidence report done by Duport.co.uk discovered that there was a significant increase in the number of start-up companies opening in Gloucester – 875 in a year, to be exact. Accordingly, this figure was 10% more than the previous number of start-ups. This was also the city's highest growth trend on record.
The report also stated that 2013 was the fifth year of the recorded consecutive upward trend in the number of company formations in Gloucester.
This indicated the resilience of the city against financial crash, as well as the growing confidence of the people to venture into the business world.
Earlier this month, the Northend Vaults pub – owned by David Thomason and Claire Baber, two of Gloucester's self-starter entrepreneurs – was reopened in Northgate Street. To recall, 27-year old David had spent eleven years in his recruitment-related work before he decided to try his hand in the pub business.
“The pub trade is all new to me after 11 years in recruitment,” Mr. Thomason said. He added that the business was funded by the £20,000 start-up subsidy he received from Virgin along with the £10,000 he got from his personal savings. David admitted that, although his new venture was a “big gamble and a little scary,” he's also positive that it will all pay off. He also recalled the help he received from Virgin and Enterprise as he was still making his business plan, especially in terms of his marketing. “Enterprise has given me a lot of backing and training,” he added.
He said, “A lot of tourists come to Gloucester and there has been a lot of investment in the Docks. This end of the city is next and is definitely on the up.”
Aside from Northend Pub, WPS Solicitors also opened a branch in Gloucester.
Catherine Green, the firm's partner in the city, said their expansion was practical, knowing that more and more people she'd talked to considered opening a business in the area. WPS Solicitors hosts the Enterprise Club sessions, managed by Gloucestershire Enterprise that offered practical start-up tips.
Overall, Duport.co.uk's managing director Peter Valaitis said, “Our report shows a mixed bag of results for Gloucester. The record number of company formations is fantastic new for the local economy, but the rise in closures reminds us that some firms are not managing to stay afloat under current economic conditions.”
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