Record set by start-ups

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A RECORD number of companies were set up in March with Portsmouth as their registered office.

The data, compiled by Duport Associates, was gathered from the official Register of Companies from Companies House.

It showed 128 new formations for Portsmouth in March, nearly 20 per cent higher than the previous record of 107, set in pre-recession 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 Portsmouth is full of opportunities for entrepreneurs, and this high for new companies is positive news for the city and its business community.’