Partner Article

Northern entrepreneurs striding ahead

Northern entrepreneurs are doing the most to capitalise on growth opportunities and are beating their southern contemporaries to turnover growth.

An EY survey of 128 fast-growing firms showed entrepreneur-led companies in the North of England achieved 24% growth in turnover in the past year beating their counterparts in London and South (19%), Scotland (17.1%) and the Midlands (12%).

While the North leads on growth, Scotland’s entrepreneurs achieved the biggest rates of job creation, growing their workforce by 69% in the past year, according to the analysis.

Entrepreneur-created jobs increased in the North by 19.2%, Midlands (9.2%) and London & South (7.8%). Overall the UK entrepreneurs surveyed achieved an average 17.2% growth in jobs at their companies in the past 12 months.

Stuart Watson, EY Partner and Entrepreneur Of The Year Leader said: “The importance of entrepreneurs in leading the economic recovery is clear, with their contribution to the growth, revenue and jobs vastly ahead of the economy in general. It reinforces research by NESTA showing that 6% of outstanding growth companies create half of new, high value jobs.

“The impact on regional economies and confidence cannot be overstated, with entrepreneurs providing a major boost for local innovation, pride and job creation. Innovative and fast-growing businesses have helped the UK regions to become world players in many industries.”

This was posted in Bdaily's Members' News section by Tom Keighley .