Closing firms are decreasing

The Bahn Thai in Fareham will soon become a Brazilian steakhouse and susha buffet restaurant Picture by Ian Hargreaves

Samba and sushi mix at new town restaurant

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THE number of companies closing in a town has decreased.

Figures from company formation experts have revealed a significant drop in company closures in Fareham during the first quarter of the year.

There was a 10 per cent reduction in the number of company closures.

Also, new company formations rose by five per cent during the same period.

This led to an overall rise in net company growth.

Managing director Peter Valaitis said: ‘In general, our report shows some very positive results for Fareham during the first quarter of the year.

‘The falling number of closures and rising number of formations suggests increased business confidence, which can only be a good thing for the local economy.’

The report also revealed the number of female company directors almost doubled to 30 per cent but the figure decreased for directors under 25.