Cornwall Council has been named the top local authority in the South West for start-ups, according to a new report. The research by Start Up Loans, which is part of the British Business Bank, named the councils that have handed out the most start-up loans in the last 10 years.

Cornwall ranked the highest in the region, with 1,296 loans issued - equating to 拢12.9m - since 2012, representing four in every thousand local adults.

Torbay Council was placed second with 258 loans handed out, while Mendip District Council was third with 196 start-up loans. The top local authorities were weighted against population size.

Louise McCoy, commercial director of Start Up Loans, said: 鈥淚t鈥檚 wonderful to see Cornwall recognised in the South West for its contribution to entrepreneurship. I鈥檓 always inspired by the stories of small business owners who have used the Start Up Loans programme to take the leap into business ownership.

鈥淭he South West has an ever-growing pool of diverse small businesses and I鈥檓 pleased to see that, with the help of Start Up Loans, they鈥檙e able to access the finance they need to grow and contribute to the local economy.鈥

Unsurprisingly, it was London鈥檚 local authorities that topped the national table for start-up loans, with Hackney Council coming in at number one (1,167 loans made worth 拢9.5m). This was followed by Lambeth (1,105 loans) and Lewisham (1,098).

The launch of the data coincides with the beginning of Business Finance Week 2022 (7-11 November), hosted by the British Business Bank and business support partners from across the 海角视频.

Top South West local authorities for start-up loans

Local Authority

Loans Made

Amount Lent (拢)

Loans per 1000 Adults (18-65)

Cornwall

1296

12,948,054

4

Torbay

258

2,438,343

3.4

South Hams

158

1,425,252

3.3

Isles of Scilly

4

60,000

3.1

Cotswold

152

1,688,506

3

Mendip

196

1,611,469

3

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