The first half of 2012 was a record first half year for company registrations in Wrexham when compared to any half year in its history. Duport, a company specialist service, has reported this positive news for Wrexham in terms of company data.
In the first half of 2012 a total of 260 companies were formed in Wrexham. This figure is 9.2% higher than last year which saw 238 companies formed, however nationwide the UK rose by 10.7% so we are slightly lagging behind – and is a record for the entire of 2012 compared to the entire company history for the town.
Again in positive news 15.9% less companies were dissolved in Wrexham compared to last year, which is well below the 8.9% national figure. In real terms this means last year 164 companies were closed in Wrexham, but this year the figure was 138. In 2009, the record high for closures, 194 companies were dissolved.
What is also interesting is that they record age of company directors, with national comparisons. Wrexham has a ever so slightly younger directorship age, with the average age being 42.9 years old. Since 2011 Wrexham has bucked the UK trend in terms of directorships under the age of 25 years old, pointing to more younger people starting up in and around town.
The gender split is still focused towards males, with only 20.3% of all director appointments in Wrexham being female.
Its worth noting that anyone can start a company for quite a low cost, that does not mean the company will trade nor actually conduct any business. Likewise due to the number of accountants in the town the numbers could be skewed as often they are used for the ‘registered address’ of a company, which could be trading elsewhere.
Either by co-incidence or as a reaction to this story* the town’s Assembly Member, Lesley Griffiths contacted Wrexham.com to say “These figures are reflective of the fact Wrexham is rightly being viewed as a great place to start and locate a business.
“Companies see advantages of locating in Wrexham, including great links to large population centres, Welsh Government help for companies of all sizes, and recent investments in infrastructure such as the recently completed Wrexham Estate Link Road.
“That said, the picture is not entirely rosy. Our long term unemployment statistics make for worrying reading. The entire UK is suffering from a double dip recession caused in 11 Downing Street which is making life difficult for new companies.
“However, when confidence and demand do return, these figures suggest Wrexham will be well placed to house a great range of medium to high-tech manufacturing industry and the sustainable employment that goes with it.”
Wrexham.com readers will have seen our focus on new business – and if you have started up recently in or around Wrexham get in touch with us as we would love to feature you!
*We are pretty sure its reading Wrexham.com as we have been sitting on this data for a few days now and no one else has published it!