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'We are making our own luck' - MP hails new business success

February 24, 2014 11:11 AM

Tim in WestminsterSouth Lakes MP Tim Farron has today welcomed research from company formation specialists, Deport, which shows that there was nearly 12% increase in new business start-ups during 2013.

The latest Deport Business Confidence Report for Cumbria for 2013 shows a total of 2,197 companies were formed in Cumbria in 2013, 11.7% higher than in 2012. This is a better rate of growth the UK average of 7.6%.

In the second half of 2013 a total of 1,085 companies were formed in Cumbria. This figure is 14.6% higher than last year, which compares well to the UK wide figure of 8.9%.The highest total for a second half year in Cumbria occurred in 2002 when a total of 1,389 were formed.

Deport also released a report on Kendal. They said that A total of 179 companies were formed in Kendal in 2013. This total is 4.7% higher than in 2012.

Tim said: "This report proves that local people are bucking the national trend. Despite the serious economic situation nationally, here in the South Lakes we are seeing dozens of new businesses setting up. Our community is making its own luck and proving that there is still a huge amount of vitality and strength in our local economy.

"This news alongside the huge rise in the number of local apprentices and investment in manufacturing jobs at Croppers, Gilkes and GSK shows that our campaign to strengthen our economy and increase job numbers is really paying dividends. I will keep campaigning and working to support local businesses and back the South Lakes economy. This news is another piece of evidence that this is working."