New data has revealed that Blackburn and Darwen are among the most entrepreneurial cities in the UK.
According to new research from SME insurance provider Superscript, Blackburn with Darwen is the UK’s second most entrepreneurial city for 2022.
Analyzing new data released by the Office for National Statistics, Superscript calculated that between 2021 and 2022, the number of small businesses in Blackburn with Darwen authority increased by 470, representing an increase of 9.2 per cent.
Cross-referenced with the latest population figures, this gave Blackburn with Darwen a score of 0.30 as “small businesses per capita”.
This is in contrast to the national trend, with a decrease of 83,000 in the number of small businesses across the UK.
This growth was largely driven by the wholesale sector, which grew by 340 small businesses, representing an increase of 94 percent.
Superscript’s nationally representative survey of 1,000 new small business owners suggests that the cost-of-living crisis appears to be a factor behind many new businesses.
Seven in ten respondents (70 percent) agreed that the cost of living crisis prompted them to start a business to supplement their salary.
72 percent indicated that they established a business because of the potential to earn more than their current job.
The survey also suggests that adequate infrastructure (15 percent), access to talent (15 percent), and where entrepreneurs already live (14 percent) are the most influential factors for small businesses to establish themselves in the United States. places where they do. .
Entrepreneurs believe their local areas can be further improved through more government funding for local infrastructure (28 percent) and lower business rents (21 percent).
84 percent said they feel positive about the future of their business despite macroeconomic challenges.
Cameron Shearer, Co-Founder and CEO of Superscript, adds: “Blackburn with Darwen didn’t make the top 10 in 2021, so the way cities have embraced entrepreneurship in the last year is all the more impressive in the context of a national nation”. fall of small businesses.
“It is a difficult time for entrepreneurs right now, but history teaches us that difficult times are when great ideas and innovations are born, with companies that evolve rapidly. That’s why flexibility and customization have become top insurance requirements for small businesses that come to us for coverage.”
Jackie Mulligan, founder of ShopAppy, an online platform for local shops, and an expert with the Government High Street Task Force, said: “The shift from our high streets to more experiential venues is a positive opportunity for hospitality businesses in particular.
“It is clear that the growth of businesses in these locations is also related to the positive efforts of local partners, business improvement councils and districts, strong and supportive communities, and effective business networks, all key to entrepreneurs in this challenging climate for local economies.
To see the full research, methodology, and resources for local entrepreneurs in these areas, visit: www.gosuperscript.com/most-entrepreneurial-locations