Sharp decline in companies registering on Island

Wed, 25 Mar 2015

New company registrations have dropped significantly - as the Island begins to reflect industry changes following the economic crash.

That's according to the Department of Economic Development which says it's now about quality over quantity.

Approximately 5,200 companies registered between 2006 and 2007 - this has now reduced by almost half.

The downturn is being put down to financial worry brought about by recession.

Head of corporate financial services John Garland explains what's happened: