Bradford has become a ‘boom town’ for new business start-up according to a new confidence report.

A new report from Duport.co.uk shows Bradford is also out-performing cities such as Leeds and Sheffield in terms of new company registrations which rose to a new record level in 2012.

There were 795 new Bradford businesses being added to the companies register last year – 129 or 42.4 per cent more than in 2011.

Duport said it was the highest level of growth ever seen in one year and described Bradford as a “business start-up hub”.

The number of company formations, coupled with a slight drop business closures, led to a record level of net company growth.

Further research from Duport places Bradford at number 22 in the top 100 UK towns for company growth, well ahead of Leeds and Sheffield, which were in 44th and 80th place respectively. Duport points to recent regeneration projects and a burgeoning tourist industry as possible reasons for the new business boom, with start-ups looking to capitalise on improvements to the city. Bradford City Park, generated more than £1 million in new trade in its first six months after opening in March last year.

Duport.co.uk managing director Peter Valaitis said: “The growth in company formation in Bradford is a really positive sign for the local economy. More new companies in the city will help diversify the business base and increase its economic strength in years to come.”

The Duport findings were welcomed by Bradford Council leader Coun David Green, pictured.

He said: “It’s great news that so many new companies have started up in the Bradford district and this is partly thanks to the coffering incentives to businesses in the city centre growth zone. As of the end of March, Bradford Council had assisted 24 companies with business rate rebates and 128 new jobs had been created.”

Duport Associates Ltd, a a leading company formation agency, uses public record data from sources including Companies House, the Office for National Statistics and Ordnance Survey in producing its confidence reports.