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|Britain’s ‘incubation belt’ shows rapid growth in companies from Bradford to Northampton|
|Tuesday, 24 November 2015|
New data from Experian highlights an almost unbroken ‘incubation belt’ stretching from Northampton to Bradford. This stretch of the country, which takes in cities such as Nottingham, Wolverhampton and Sheffield, has experienced rapid growth in company numbers in the last year, with Leeds topping the chart with a 12 per cent gain in company numbers. This compares to a national average of 6.1 per cent.
These incubator areas fall short of making Experian’s list of Britain’s most prosperous places due to their below average percentage of fast growing businesses. However, it’s important to the UK economy’s growth that these areas with high start-up and survival rates become home to more fast-growing businesses.
Max Firth, Managing Director for Experian Business Information Services, UK&I, “The incubation belt highlights a number of areas that have succeeded in creating a place for businesses to form and survive, but in which they have yet to accelerate sales growth to the levels achieved in London. With the economic downturn now behind us, places we have highlighted as incubators will want to take the next step to increase prosperity.
“Start-ups will need support to become engines of growth in their local economies if prosperity is to be achieved. These businesses will maximise their chances of achieving rapid growth by checking customers are in a position to settle invoices promptly and by finding new clients at home and abroad.”
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