Staffordshire business booming despite downturn

It comes as data was released today showing that 2014 was a record breaking year for firms in the county with 6,155 being set up.

Out of the thousands of businesses launched since 2008, a total of 44 per cent are still operating today.

The national average is 41 per cent.

Chris Plant, divisional membership director of Greater Birmingham Chambers of Commerce, today welcomed the figures but said more could be done to help businesses.

He said: "We would clearly have liked the survival rate to be better but it's a great tribute to the Staffordshire region that it is above the national average.

"We continue to work hard to help business start up and survive so with the improving economic climate will look forward to many more business starting up and flourishing."

Data compiled by www.informdirect.co.uk shows that the number of businesses set up in Staffordshire has gone up by 5.4 per cent from 6,155 in 2014 compared to 5,538 in 2013.

A total of 757 businesses were set up in Lichfield, 735 in Stafford and 650 in Cannock.

The number of active companies in the county passed 40,000 for the first time, standing at 41,427 at the end of the year.

Henry Catchpole, chief executive officer of Inform Direct, said: "This is clearly an area where fledgling firms are flourishing and where people are starting to make their dreams a reality in the word of business."

The figures come just weeks after it was revealed the rate of youth unemployment in Cannock, Rugeley and Hednesford had halved in a year.

The number of 18 to 24-year-olds out of work at the beginning of last September was 3.2 per cent, compared with 6.4 per cent at the same time in 2013.

Cannock Chase Council leader George Adamson welcomed the news.

He said the authority had set itself a target to have the lowest rate of youth unemployment in the West Midlands region by 2018.