7th May 2008
Bournemouth has seen the biggest growth in new businesses over the last year, a survey has found.
The research by accountancy group Hacker Young compared the number of VAT registrations against deregistrations to measure the net growth of businesses in the UK's 50 largest towns and cities.
Bournemouth topped the league, seeing 13 new businesses set up per year for every 10,000 resident adults, compared to the UK average of 6.14. Milton Keynes, Northampton and London came in joint second place with 12 new businesses per 10,000 resident adults.
Stoke-On-Trent and Southend were placed at the bottom of the league, having shown a net loss of 6 and 5 businesses respectively per 10,000 adults.
The survey's authors attributed Bournemouth's success to several factors. They included the emergence of new creative industries, a high number of young people, a new cosmopolitan image and an increase in the number of banks opening up back offices in the town.
"It doesn't surprise us that Bournemouth is the UK's leading town for business creation," said Professor Nick Petford, pro-vice-chancellor of research and enterprise at Bournemouth University. "The synergy we share with the business community in Dorset is helping to develop start-ups and new business ideas in an environment that fosters innovation and creativity."
At the bottom of the survey's list, Stoke-On-Trent was found to have suffered from the relocation of manufacturing facilities overseas, as well as from independent retailers' failure to compete with new retail developments and from a slowdown in the construction industry.
Southend-On-Sea was seen to have fared particularly badly at the hands of a general economic decline across many UK coastal towns, linked to the availability of cheap flights abroad.
Although the number of new businesses in the UK grew by 2.39% in the last year, nearly half (44%) of the towns and cities surveyed showed a decline or zero growth in the number of new businesses created.
Image courtesy of Bournemouth Tourism
Bournemouth 'top for new businesses'
The research by accountancy group Hacker Young compared the number of VAT registrations against deregistrations to measure the net growth of businesses in the UK's 50 largest towns and cities.
Bournemouth topped the league, seeing 13 new businesses set up per year for every 10,000 resident adults, compared to the UK average of 6.14. Milton Keynes, Northampton and London came in joint second place with 12 new businesses per 10,000 resident adults.
Stoke-On-Trent and Southend were placed at the bottom of the league, having shown a net loss of 6 and 5 businesses respectively per 10,000 adults.
The survey's authors attributed Bournemouth's success to several factors. They included the emergence of new creative industries, a high number of young people, a new cosmopolitan image and an increase in the number of banks opening up back offices in the town.
"It doesn't surprise us that Bournemouth is the UK's leading town for business creation," said Professor Nick Petford, pro-vice-chancellor of research and enterprise at Bournemouth University. "The synergy we share with the business community in Dorset is helping to develop start-ups and new business ideas in an environment that fosters innovation and creativity."
At the bottom of the survey's list, Stoke-On-Trent was found to have suffered from the relocation of manufacturing facilities overseas, as well as from independent retailers' failure to compete with new retail developments and from a slowdown in the construction industry.
Southend-On-Sea was seen to have fared particularly badly at the hands of a general economic decline across many UK coastal towns, linked to the availability of cheap flights abroad.
Although the number of new businesses in the UK grew by 2.39% in the last year, nearly half (44%) of the towns and cities surveyed showed a decline or zero growth in the number of new businesses created.
Image courtesy of Bournemouth Tourism
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