A record number of new businesses opened in the borough of Sutton in 2012, as the borough’s Opportunity Sutton drive to attract jobs and growth to the area starts to take effect.

The highly-respected Duport Business Confidence Report reveals that 863 new companies were formed in Sutton last year – the highest number since records began. The report also shows that business confidence in the area strengthened as the year went on – with net growth in Quarter 4 the highest ever measured and both October and November beating previous records.

Peter Valaitis, Duport Managing Director, said: “The record number of company formations last year is a positive sign for the economy of Sutton. New business will diversify the economic base, helping protect the area from future economic shocks.”

The report, which gauges UK business confidence, credited the borough’s work in encouraging inward investment and offering support services to business start-ups, including free business advice and networking events which create the right conditions for business. In June 2012, the borough launched its innovative Opportunity Sutton economic growth programme to encourage companies to set up in the borough.

The programme is focusing on seven main areas:

1. Lobbying Transport for London to extend the Tramlink to Sutton town centre.
2. To develop a science and research development cluster capitalising on the growth plans of the Institute of Cancer Research.
3. Growing the Green Economy locally.
4. Strengthening Town and District Centres such as Carshalton High Street.
5. “Open for Business” ensuring the council is business-friendly.
6. Matching workers’ skills with employers’ demands.
7. Area Renewal Programmes to reinvigorate Hackbridge and Beddington.

Each of those areas has a dedicated project manager driving the programme forward and encouraging businesses to see what Sutton has to offer.

Cllr Jayne McCoy, Sutton Council’s Chair of Housing, Economy and Business Committee, said: “The council is absolutely focused on encouraging businesses to come to the borough and bring jobs and growth. “The programme is badged as Opportunity Sutton and we are very excited to see that it is already bearing fruit. Right now it is still in its infancy, but there is much more to come.”