Blackburn and Blackpool rank as high-growth towns
New statistics revealed by Experian show that both Blackburn and Blackpool are rating as hotspots for business growth.Experian ranked the UK's towns and cities providing the best environment for business success, based on how businesses in the areas have performed throughout 2013.
The index reviewed performance against four key measures including; the number of start-ups; rate of insolvencies; the level of financial health; and turnover growth compared to 2012. The performance scores were calculated by categorising the above indicators from 1-5 with 5 being the best performing and 1 being the worst.Blackpool ranked ninth on the list for start-ups, with the formation of 1,387 over the last year. That represents 18.94 per cent of businesses in the area. Top of the table was East London, where the start-up rate is 24.54 per cent.
Meanwhile Blackburn has the 11th highest proportion of high-growth businesses. In the town, 206 firms showed sales growth of 1o per cent or more, or 44.98 per cent. Aberdeen topped the list, marginally ahead with 54.69 per cent. Max Firth, managing director, Experian Business Information Services, UK&I said: “This study highlights that business conditions are starting to show real signs of recovery, not just for the capital but in towns across the UK. It is encouraging to see signs of positivity from areas like Northampton, Bristol and Aberdeen with a strong upward trend in the creation of locally formed businesses and the success of those companies. Growing businesses have a positive effect on the wider economy starting with increased employment prospects.”