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Guildford Company Closure Rate Slows

Published on: 16 Oct, 2012
Updated on: 17 Oct, 2012

There has been a reduction in company closures during the first six months of the year in Guildford, according to statistics in the latest Duport Business Confidence Report.

Company closures in Guildford have fallen by almost 6% during the first half of the year. There were 289 closures between January and June, compared to 307 during the same period in 2011.

Further good news for the area comes in the form of a record number of new company registrations during the first half of the year. More information on company closures and formations can found in the full Duport Business Confidence Report at

The decline in company closures and the record number of company formations could be due to the the efforts of the local council in attracting new business. One of the key objectives in the most recent Sustainable Community Strategy Delivery Plan (published by Guildford Local Strategic Partnership) is that more businesses will be based in the Borough.

The plan states that it will establish “a pro-active programme of marketing to attract inward investment” and places emphasis on “providing opportunities for investment, supporting significant business clusters and ensuring the availability of land and premises”. It also promises facilitate new businesses by providing “start-up” premises, assistance and information to potential entrepreneurs.

Cllr. Stephen Mansbridge, the new Leader of Guildford Borough Council said: “This report is good news and we welcome it at both GBC and the Guildford Business Forum.  We must be careful not to allow one single statistic to make us believe that the green shoots of recovery are evident, but it is certainly a very positive sign.”

Managing Director of, Peter Valaitis said: “With company closures falling and company formations rising, this is an exciting time to start a business in Guildford.

“The area has much to offer business start-ups, including a highly qualified workforce and good transport links to London.”

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