Between January and March, there were just 65 company closures, representing a 54% decrease compared to the same period in 2014. This also puts Southend well ahead of the UK as a whole, which saw a 6% rise in closures.
In further good news, Southend-on-Sea Borough Council has been successful in the second round of Coastal Communities Funding, gaining £1.25m to significantly enhance and diversify tourism in the area. This grant is excellent news for local traders, as a recent business survey revealed 28% of businesses in Southend said tourism was very important to their survival.
Managing Director of Duport.co.uk, Peter Valaitis said: "A drop in closures suggests that trading conditions in Southend-on-Sea are improving in the wake of the recession. The investment in tourism should help encourage greater footfall in the area, providing a further boost for local economy."
The Duport Business Confidence Report for Southend-on-Sea contains a range of data and statistics, from company formation numbers to new company naming trends. More information can be found at http://www.duport.co.uk/southendonsea.