North West England Business Creation Above UK Average: Report

The number of new businesses created in the northwestern UK increased by 19% last year, above the average of 15% for the UK as a whole, according to figures collected by private-equity firms. ECI Partner..

Northwest-based entrepreneurs launched a total of 43,255 new businesses in 2020/21, up 19% from 36,290 created in 2019/20.

Data-based figures from the Office for National Statistics (ONS) reflect the increasing location of businesses, especially technology start-ups, outside London and southeast England.

It ’s the population of London Set to decline It’s been over 30 years. Many multi-industry companies recognize the benefits of moving to other parts of the UK, including reduced operating costs.

Mark Keeley, a partner at the ECI Manchester office, said:

Manchester Considerable investment Attract entrepreneurs, build a business ecosystem and help them become one of Europe’s fastest growing technology hubs. Six (43%) of the UK’s 14 digital unicorns already exist in the region. Notable companies in the city include The Hut Group, Berry Group, Peak and Mojo Mortgages.

Liverpool has also proven to be a popular city in North West for business.

Elsewhere, banks such as HSBC and Deutsche Bank have set up bases in Birmingham, West Midlands. It costs 35% less than London.

“The Northwest has a long-standing reputation as the perfect place for businesses to set up and grow,” Keeley added. “I think the future of entrepreneurs in the region is bright, as the government has established itself as a hotbed of innovation and economic growth and has promised significant funding as part of the Northern Powerhouse initiative.”

North West England Business Creation Above UK Average: Report

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