Small business growth 'in every corner of the UK'

Small businesses and entrepreneurs are increasingly active right across the UK, research has found.

The UK Growth Dashboard 2015, a study from the Enterprise Research Centre (ERC) in partnership with Business Growth Service, found that rather than the traditional model of high growth in London with the provinces trailing, there is actually activity across the regions.

Professor Mark Hart, deputy director of ERC, commented: “[The Dashboard] shows us that small businesses in every corner of the UK are growing at their fastest rate since the Great Recession, while more and more entrepreneurs have the confidence to take the plunge.”

However, there were still regional discrepancies. Northern Ireland, for example, had a higher proportion of start-ups reaching a turnover of at least £1 million within three years. Belfast, West, South and North Northern Ireland saw around between 10 and 11 per cent of businesses reach this stage.

Professor Hart added: “Nevertheless, there remain big regional disparities in entrepreneurship and small business growth. Equipped with the up-to-the-minute information contained in the Dashboard, we can see that some areas appear better at breeding success.

“At a policy level, this can help us create an environment for business to thrive throughout the country.”