Hats off to Lancashire!

By Paul Spencer, director, Haworths.

According to official statistics small businesses (SME) account for some 99.9 per cent of all businesses in the UK, are responsible for nearly 60 per cent of all private sector employment and around half of all private sector revenue generation.

Critically they generate 76 per cent of all new job creation in the UK. Hats off to Lancashire then!

According to data from Companies House and the Office for National Statistics, Lancashire is bucking the national trend in terms of new company start-ups.

Figures just published which analyse the number of new businesses formed across the UK in 2017 indicate that whilst the trend nationally saw a reduction in new business formations, Lancashire established more new businesses than any previous year.

The figures show that the total number of registered companies in Lancashire increased from 68,241 at the end of 2016 to 71,294 an increase of 4.5 per cent.

Here at Haworths we work across a whole raft of business sizes, but regularly work with new organisations from the point of company formation all the way through to offering advice about growth, managing finances, compliance and annual accounts preparation.

And we are at the sharp end of these growth figures helping new businesses manage the complexities from day one.

We see the business landscape in Lancashire as one that really supports job creation through these vital green shoots, encouraging enterprise and new business ventures, particularly in terms of really hands-on business support from a wide range of organisations across the region. Talk to us at Haworths if you need pointing in the right direction.