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news opinion
The UK is now the most attractive country in Europe – and the fifth most attractive in the world – for incoming business investment …
Tax incentives and the Patent Box regime have helped make Britain a very popular place to establish a technology company. Only China, the US, India and Brazil are ahead of the UK for inward investment.
More encouragement is needed to bring manufacturers to the UK but, that apart, our economy is proving a magnet for overseas companies, securing one-fifth of all inward investment projects in Europe.
There are some who don’t like this. They think that overseas companies are simply looking for a cheap location where they can avoid some of the taxes they
would otherwise pay in their native land.
But who are the winners here? In most cases, it is the British economy that benefits from inward investment, in terms of jobs for British workers, cash to the Exchequer, and our international standing.
When a global brand sets up in the Thames Valley or Solent region, the knock-on benefits to the economy and status of the region are palpable.
• This month we publish both the Thames Valley 250 and a new list, the Solent SME 100. Listings like these highlight the hundreds of home- grown success stories in the region.
From £1 billion turnover businesses to SMEs and start-ups, private companies are the essence of the south’s entrepreneurial economy. We are delighted to spotlight them.
David Murray Publisher
More new companies and fewer closures
The first quarter of the year saw a significant increase (24%) in company formations in Basingstoke, as well as a reduction in closures, according to the latest Duport Business Confidence Report for the area.
This figure positions Basingstoke ahead of the UK as a whole, which saw an increase of just 12% over the same period.
There was also a 15% drop in company closures, again putting the area ahead of the UK as a whole, which experienced a 6% increase in closures over the first quarter.
The rise in formations and fall in closures led to a dramatic increase in net company growth (the number of company
formations minus the number of closures). During the January to March period, net company growth stood at 134, compared to 58 the previous year.
These positive figures follow the news that the number of people claiming Jobseekers’ Allowance in Basingstoke has recently fallen by nearly 600, which should help boost the local economy still further.
Peter Valaitis, managing director of
Duport.co.uk, commented: “Our report shows business confidence is on the rise in Basingstoke. With so many new companies formed in the first quarter, the rest of the year promises to be very exciting.”
The Duport Business Confidence Report for Basingstoke provides a range of data and statistics to give an overview of the local economy and trading conditions.
Duport Business Confidence Reports are generated and released by Duport Associates.
Details:
www.duport.co.uk/basingstoke
We aim to make our clients stand out from the others
To see how we can help contact your local office or email
info@wilkinskennedy.com Wilkins Kennedy LLP
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E.indd 1 THE BUSINESS MAGAZINE – THAMES VALLEY – JULY/AUGUST 2014 12/11/2013 16:12
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