UK entrepreneurial performance at an all-time high
17th November 2016 | News
Barclays’ eighth Entrepreneurs Index has revealed the performance of the UK’s entrepreneurs has grown by 10% since 2011, rising to all-time highs following a decline in 2014.
All areas of England registered start-up growth, with the West Midlands, Yorkshire and the Humber producing the highest number of scale-up, high-growth companies.
The total number of high-growth companies across the UK has grown by 0.7% in 2016 – significant growth in the context of last year’s decline of 21%. In total, there has been a 4% increase in the number of active businesses from December 2015 to June 2016, equating to 345,000 new incorporations.
Interestingly, the number of mergers and acquisitions of companies active for less than five years has grown – up by 33% in December 2015-June 2016.
The sector responsible for the most high-growth companies has been construction (+4.6%), followed by business services (+1.3%), agriculture (+1%), retail (+1%) and customer services (+1%); all of which are above the UK average.
Akshaya Bhargava, Chief Executive of wealth, entrepreneurs and business banking at Barclays, said: “Uncertainty is part of everyday life for entrepreneurs and those that succeed navigate unchartered waters and adapt to find opportunities to thrive.
“This year’s Entrepreneurs Index shows that before the EU referendum, regulations and conditions for entrepreneurs had improved, making it easier to start a business and contributed to a rise in M&A.
“Until the outcome is fully known, it’s vital that we do everything in our power to deliver a strong environment to sustain UK entrepreneurial growth.”