The number of high-growth companies and enterprises in the North West has increased over the past 12 months.
The results of a survey, conducted by Barclays and BGF Entrepreneurs Index, reveal a 0.5 per cent rise in the number of enterprises in the past year.
This amount represents the joint third highest increase in the UK, trailing East Anglia and the South East and London, which saw rises of 0.6 per cent and 3.5 per cent respectively. The proportion of the region’s high-growth companies has increased by 19 per cent.
The survey also reveals that the North West saw as 25 per cent fall in the number of companies recording share sales in the past 12 months, which could reflect that potential investors are being selective and that the region’s entrepreneurs are waiting for more favourable conditions to sell.
Although the number of local companies recording share sales over the past year has decreased, there are still positive signs of strong entrepreneurial activity in the region and a sense of renewed confidence, according to Alan Edwards, director of Barclays Wealth and Investment Management, North West.
He commented that British entrepreneurs are on target to start more than half a million new businesses this year alone. He said that it is clear that new businesses in the area are becoming what he calls “an economic tour de force.”
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