A RECORD number of new companies were formed in Brentwood during 2012, new research has revealed.
However the net growth – the difference in the number of companies that opened to those that closed – fell from 197 in 2011 to 176 in 2012.
According to company formation specialists Duport.co.uk, 546 new companies were created last year – a record for the town and a seven per cent rise on the previous year.
But more sobering were figures that showed there was an 18 per cent rise in company closures during the same year.
Interestingly, the Duport report also shows that the percentage of young director appointments stayed largely the same between 2011 and 2012, while the percentage of female director appointments rose from 27 per cent to 30 per cent.
Peter Valaitis, managing director of Duport.co.uk, said: "Our annual report for Brentwood shows a mixed set of results for the area.
"Whilst an increase in company formations is a positive sign for the local economy, a rise in company closures shows that the town is not immune to the challenges of the current economic climate."
The Duport Business Confidence Report for Brentwood contains up-to-date data and statistics on the local economy.
The number of start-up businesses in Brentwood have grown steadily since the financial crash in 2008.
In 2008 there were 405 new businesses, in 2009 there were 441, in 2010 there were 501 and in 2011 there were 511 new companies.
The borough has long been regarded as an attractive place to start businesses, with its close proximity to London and decent rail and road links
www.duport.co.uk/brentwood
The Essex Business Excellence Awards pages 32-33