Business Growth in Wolverhampton

By Matt Weston

A record number of new businesses are starting in Wolverhampton and we’re proud to be part of it. 384 businesses were formed between July and September last year Companies House and the Office for National Statistics have revealed.

Many new businesses fail within their first two years but the research by Duport Associates showed a net gain of 163 businesses in Wolverhampton between July and September. Whilst the city still has one of the highest rates of unemployment in the country we believe that the new influx of companies emerging bodes well future of the city.

The city council said the new start-ups were part of a £1bn investment in the Wolverhampton area from public and private sector organisations, including Jaguar Land Rover’s £350m engine plant, which is currently being built at i54.

Warwick on the other hand is seeing a record number of company closures (183) in the third quarter of 2012, a 91% increase in closures, compared with the same period in 2011.

We’re very proud of our Wolverhampton base so we are absolutely delighted that so many fellow companies are starting here to help buck the national trend. We believe that together with established organisations in the region we can increase the levels of employability and generate business growth.

The partnership between the City Council and the University of Wolverhampton to provide services such as the Science Park are a tremendous help to the development of companies. The Business Solutions Centre and schemes such as the Speed Plus programme that the University of Wolverhampton offer give organisations like ours a really good start into the business world. Here’s to a prosperous future for Wolverhampton and the wider West Midlands region with lots of business growth in Wolverhampton.

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