Recession? What recession? Leamington sets record for new businesses

This growth smashes the previous record of 149 new firms in three months by ten per cent.

The findings back Office for National Statistics figures (ONS) published last month, which revealed that there are more people in jobs and the wages are on average higher in Leamington and Warwick compared to other parts of the country.

Company formations firm duport.co.uk compiled this latest report, which counted 164 new firms that have sprung up between January and March.

Managing director Peter Valaitis said: “This great news for Leamington and it shows incredible resilience that during a double dip recession, Leamington has beaten the company formation record set during an economic boom.”

The ONS report found that 2.5 per cent of people in Warwick and Leamington are claiming Jobseekers Allowance, compared to the national average of four per cent.

And this week, new figures showed that unemployment in the area went down by 0.2 per cent between March and April, while those claiming Jobseekers’ Allowance went down by 0.3 per cent and youth unemployment by 0.6 per cent. This gives the constituency a youth unemployment rate (3.4 per cent) of under half the national rate of 7.9 per cent.

Chris White, the Conservative MP who represents the constituency, said: “These figures show that our local economy is moving forward despite the difficult economic circumstances. When coupled with a record number of businesses being set up in Leamington at the start of the year, this paints a picture of a local economy which is dynamic and full of potential.”

Conversely, as stated in a previous Courier report, Steph and Geoff Devlin, who run a soup kitchen in Leamington, say the number of people turning up has gone up by 40 per cent since January.

Mr White added: “We must never be complacent about unemployment. I will continue to work with organisations to see how we can help as many people as we can into work.”