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Lincoln breaks economic records for 2013

Lincoln has managed to break records in company formations and other positive economic statistics for 2013, according to a report.

The annual Duport Business Confidence Report for Lincoln is complied using Companies House, Office for National Statistics and Ordnance Survey data by Duport Associates.

It helps give business leaders in the area and nationally an insight into local comities and trading conditions.

In Lincoln, it found 1,971 new companies formed during 2013, more than any other year in the history of Lincoln’s reports, and a 2% rise on 2012.

Also, the number of company closures fell by 10%, leading to an overall rise in net company growth (the number of new company formations minus the number of company closures).

This means net company growth hit a record level over the course of the year, with the company register increasing by 1226.

Managing Director of Duport.co.uk, Peter Valaitis commented: “The data we have gathered in our report on Lincoln paints the area in a very positive light.

“The growing number of new companies will help strengthen and diversify the local economy in years to come.”