MORE news that Banbury is coming through the worst of the recession came this week after figures showed the number of new companies being formed in the town is up by almost seven per cent.
The latest figures released by Duport Associates Ltd, which produces quarterly Business Confidence Reports for every area of the UK, show that in the first half of 2012 a total of 223 companies were formed in Banbury – a figure which is 6.7 per cent higher than for the same period in 2011 when 209 firms were formed.
In the second quarter of the year from April to June 2012, 109 new firms were registered in Banbury, representing a 0.9 per cent increase on 2011.
And in the first six months of 2012 the company register for Banbury increased by 86 firms, a 10.3 per cent increase from the same period in 2011.
Ray Avery, managing director of Bloxham Mill Business Centre, which provides office accommodation and management for small and medium sized companies, echoed the message of positive growth.
Mr Avery said at least eight new businesses have set up offices in the business centre so far this year. Four new business have also committed to office space in the past two months.
He said: “Without a doubt we’ve seen an increase in the level of enquiries from businesses looking to set up here, some even national organisations, which suggests to us that while we’ve still got a long way to go, the economy is beginning to show green shoots in Banbury.” Asked why organisations are keen to set up in Banbury Mr Avery said: “Banbury has got a lot to offer, with great communications next to the M40, it’s not far from Oxford and you can get into London in less than an hour on the trains. Banbury also has a lot of high-quality industrial units, with award-winning brands operating right here in the town.”
Compared to national statistics the picture is not as bright however.
There was a 10.7 per cent increase in the number of new firms formed in UK in the first half of 2012 compared to the 6.7 per cent increase for Banbury.
There was also an increase in the number of firms being wound up in Banbury with 137 dissolved in the first half of 2012, a 4.6 per cent increase from 2011 figures.