THE number of new companies being formed in Bradford has reached a record high and is running ahead of the national average, according to new findings.

Company formations reached a record high during the first three months of the year, according to research from Duport.co.uk. Between January and March, there were 631 new companies formed – more than any other year on record and an 18 per cent rise on the previous year.

This also puts Bradford ahead of the UK as a whole, which experienced a 12 per cent rise. The latest Duport Business Confidence Report for the area says the first quarter of the year saw an unprecedented number of new companies formed.

Peter Valaitis , managing director of Duport.co.uk, said: “We are seeing a mixed bag of results for Bradford at the moment.”