Bournemouth top of the towns for business growth
Town’s ‘emerging creative industries’ create atmosphere for business growth
Bournemouth has topped a list of UK towns with the highest growth in the number of small businesses, it has been revealed.
A total of 13 new businesses were opened per 10,000 residents per year, compared to a UK average of around 6.
London, Milton Keynes and Northampton came joint second in the poll, with 12 new businesses per 10,000 people.
Accounting group UHY Hacker Young, who did the survey, nearly half the cities in the survey were seeing a decline or a zero growth in the number of new businesses.
Among the lowest-ranking areas were Stoke-on-Trent, with an annual loss of 6 businesses per 10,000 residents, and Southend-on-Sea, with a decline of 5.
Overall, the number of businesses in the UK market has grown by almost 2.5%.
Marc Waterman, partner at UHY Hacker Young, said Bournemouth has a unique ability to capitalise on the trends in modern business activity.
“The emerging creative industries in particular have received a recent boost with the development of an incubator centre at the Arts Institute.
“Together with Bournemouth University, it has earned the seaside town the international recognition as a centre of learning excellence providing knowledge-based employment opportunities,” he said. He added that having a core of young people in the area also helps counter the traditional perception of Bournemouth as a retirement town.
“Its new cosmopolitan image provides strong links to companies, as international business students are an important client and employee group.
“This trend has also added enormously to its popularity as a leisure destination,” he said. © Crimson Business Ltd. 2008