Lincoln broke economic records for new company registrations and net company growth in 2012, according to new research.
A report from company formation specialists Duport shows there were 1,926 company registrations during 2012, more than any other year on record for the city.
The data was compiled and analysed by Duport using public record data from sources including Companies House, Office for National Statistics and Ordnance Survey.
Net company growth reached an all-time high, with the company register growing by 1,100.
Lincoln also broke its own record for UK company share during 2012. This figure has been rising steadily since 2008, suggesting the area is becoming increasingly important to the national economy.
The diverse business base of Lincoln could be key to its success, the report indicates.
Although traditional industrial work has decreased, there is a growing IT economy, and a number of e-commerce mail order companies have set up in or around the city. As a result, the area has become a distribution hub, which has led to many new logistics companies setting up.
The Duport report shows that the top four words used in new business names last year were Transport, Logistics, Driving and Haulage.
Peter Valaitis, Managing Director of Duport, said: “Lincoln has a lot going for it, so it’s hardly surprising we are seeing so many economic records set at the moment. A stable tourist trade, growing IT sector and a diverse business base make it the ideal place to set up a new company.”
Simon Beardsley, Chief Executive at the Lincolnshire Chamber of Commerce, said: “It is encouraging to see another survey which shows a more positive view of Lincoln’s economy than might be evident following recent national headlines.
“The results of Duport’s research echo that of yhe Lincolnshire Chamber’s Quarterly Economic Survey, which was released a few weeks ago. Together they give us a wealth of data and information about how business is changing in the county and what needs to be done to nurture future growth.
“The report also shows us that the city has a pool of entrepreneurs across a diverse business base. And whilst the decrease in traditional industrial work is of concern and every effort is being made to help this sector embrace new opportunities, there is a real need for organisations such as the Lincolnshire Chamber to bring funded business support and training programmes to start up business – because they will be the city’s future.”
Lincoln confidence report findings
A total of 1,926 companies were formed in Lincoln in 2012. This total is 34.7% higher than in 2011 and compares favourably to the UK figure of a 8.6% growth compared to 452,870 the previous year.
A total of 826 companies were dissolved in Lincoln in 2012. This total is 59.2% higher than in 2011 and compares favourably to the UK figure of 6.6% decrease compared to the previous year.
The percentage of female directors in Lincoln in 2012 was 35.8%. The average for the UK during this time was 29.9%. The record year for female directors in Lincoln was 1860 when 35.7% of all directors were female.
The average age of a director in 2012 was 45-years-old.
The Lincolnite welcomes your views. All comments are reactively-moderated and must obey the house rules. Please stay on topic and be respectful of other readers.
We are appealing for witnesses and dashcam footage after a collision caused serious injuries to a 23-year-old man.
Just before 3.30pm yesterday (2 July), we received reports of a collision on Barholm Road in Tallington. It involved a grey BMW 335D estate, a blue BMW 116D and an orange KTM motorcycle.
The motorcycle rider, a 23-year-old man, sustained serious injuries during the collision and was taken to hospital.
If you witnessed the incident and are yet to get in touch with us, please do so. If you have any other information or dashcam footage available that may have captured the road along the A1175 at the time of the collision, get in touch.
By calling 101 quoting incident 282 of 2 July.
By emailing [email protected] quoting incident 282 of 2 July in the subject line.
If you wish to remain anonymous, you can report via the independent charity CrimeStoppers on 0800 555 111 or online.
The 2022 Destination Lincolnshire Tourism Excellence Awards are open for applications, and Destination Lincolnshire giving you the rare chance to co-create your application with Nell Barrington, a tourism awards veteran, who has helped hundreds of businesses write winning applications over the last 15 years – including national VisitEngland winners.
The Tourism Awards Masterclass is taking place on Tuesday 12 July at 11am for one-hour online. Laura Freer, Head of Marketing at Destination Lincolnshire said: “This is a golden opportunity, after years of hard work and heartache, to get your business and team recognised and rewarded.
“A well written application is key to achieving a coveted place on this year’s shortlist, and I’d encourage all tourism and visitor economy businesses who are thinking of entering – whether they are seasoned at writing award applications or not – to join us for this exclusive masterclass.
“Nell Barrington has worked with us and VisitEngland on the founding application processes of these awards, and she is perfectly placed to assist in co-creating applications that you can be proud of. This is a great opportunity for business development too – whether you are shortlisted for an award or not – discovering how to effectively apply for awards and talk up your business adds another string to your bow.
“Booking is essential and places are limited to just 35 – so be quick! This year we’ve made our masterclass available to partners and also to those who we are yet to work with for free. Call it an added bonus, after two years away from the awards circuit.
The awards masterclass is focussed on the application process, and it will spell out what the judges are looking for. You’ll learn how to make your application stand out from the local competition, helping your chances of going through to the national VisitEngland Awards in 2023.”
There are fifteen categories open for nominations from visitors attraction, accommodation providers, hospitality businesses and many more.
The deadline for nominations is July 29, with online judging starting on July 30 and mystery shopping from August 13. Finalists will be announced on Monday, August 15.
The awards ceremony will be held at the Engine Shed on October 21, and will be hosted by Lincs FM presenter, John Marshall.
The event is organised by Stonebow Media, publishers of The Lincolnite, to celebrate the best businesses in Greater Lincolnshire, alongside headline sponsors Lincoln College and Destination Lincolnshire.
We would also like to thank our other sponsors Visit Lincolnshire, Heart of Lincs, Duncan and Toplis and LNER, insight6 and EV Camel.