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Economic Development

North of England sees rapid growth in new business start-ups, new study shows

Analysis by GoDaddy 海角视频 and Ireland shows that 40% of the areas with the fastest growth in the density of start-ups and small business were in the North

Burnley is among the areas featured in the Venture Forward report(Image: Getty Images)

New research indicates that the North of England is experiencing a surge in small business launches.

The study from GoDaddy 海角视频 and Ireland showed 40% of areas showing the fastest growth in start-up density were located in the North.

Andrew Gradon, head of GoDaddy 海角视频 and Ireland, commented on the findings, stating that they demonstrate the positive effects of investment through the Northern Powerhouse initiative, which was first launched in 2010 to boost regional development.

According to the Venture Forward report, out of the top 50 constituencies with the most rapid increase in small businesses, 20 are from "Northern Powerhouse" regions. This figure surpasses the nine constituencies in the south of England and doubles the number from the previous year in the region.

Locations such as Barrow-in-Furness in Cumbria, Burnley in Lancashire, and Birkenhead in Merseyside have all witnessed significant upticks in small business growth, with increases exceeding 70% compared to last year.

Mr Gradon added: "While small businesses flourish across the nation, the North has proven to be a hub of entrepreneurial spirit.

"A decade on from the introduction of the Northern Powerhouse Investment Fund, the investment is clearly having an impact on the start-up economy.

"Importantly, it proves that being a small business doesn't mean having small ambitions, nor does it mean small impact.