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Jordans

SHARP INCREASE IN NEW COMPANY FORMATIONS ACROSS BRITAIN

New figures from Jordans reveal over 440,000 new businesses were set up in 2007

Over 440,000 new businesses were created in England, Scotland and Wales over the last year – an increase of nearly 15 per cent on 2006.

Latest figures from corporate services firm Jordans reveal that would-be entrepreneurs are shrugging off any suggestion of an economic downturn and continuing to set up in business in ever-increasing numbers.

A total of 443,725 new enterprises appeared between January and December last year, according to Jordans, the country‘s largest independent specialist in company formations and business information.

Paul Townsend, Director of Jordans‘ Corporate Services, said: “Despite reservations about the immediate future, our new figures show there is no shortage of people who have sufficient confidence in our economic prospects to take the major step of launching their own company, many of whom are individuals forming their own managed service companies.

“These are figures that suggest an underlying strength in the economy and confidence that it is worth starting a business.

“Nevertheless, we cannot yet be sure of the extent of the downturn and it will be interesting to see how the figures compare as we move further into 2008.”

The national increase over 2007 is the equivalent of almost 37,000 each month but February and March were again the peaks for company formations, as traditionally, many sole traders decide to form their own company before the start of the new tax year.

Almost every British region experienced a rise in company formations last year, with the largest increase being seen in the North West, up 60 per cent from 40,096 to 65,299. Greater London saw the largest number of new companies, up nearly a fifth on 2006 from 123,917 to 142,967.

Yorkshire and Humberside and West Midlands were the only regions to see a fall in new companies.

ENDS             2nd April 2008

For further information please contact Neil Fraser, Sturgess Van Damme, on 01275 349011 or email neil@sturgessvandamme.co.uk

 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.