More businesses than ever setting up in Portsmouth

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LAST month saw a record number of companies being set up in Portsmouth, according to new research.

Duport Associates is a firm which tracks the number of businesses formed by using the register of companies from Companies House to look at specific areas.

In March, it recorded 128 new companies set up with registered offices in Portsmouth, a total that is nearly 20 per cent higher than the previous record of 107, set in March 2007.

Duport Associates’ managing director Peter Valaitis said: ‘Portsmouth’s new record for company formations is a considerable increase on its previous highest total, which has been unmatched for five years.

‘This remarkable new surge in formations shows that the city is full of opportunities for entrepreneurs.

‘With most of the local headlines concerning the woes of Portsmouth FC’s return to administration and subsequent relegation, I think the people of Portsmouth will be glad for some positive news.’

It was described as ‘really interesting and positive’ by the leader of Portsmouth City Council, Cllr Gerald Vernon-Jackson.