Scottish cities ‘leave london trailing’ on start-up growth

Buch StThe number of new business start-ups has grown faster in Glasgow and Edinburgh over the past twelve months than in London, according to new figures.

Data published by office space firm Instant Offices show that in the last year 33 per cent more businesses were set-up in Edinburgh compared to last year and 30 per cent more businesses were set up in Glasgow. This compares to an increase of 21 per cent in London.

The increase in start-up businesses across the UK has been driven by the regional cities with Nottingham showing the highest concentration of new business registrations; 68 per cent more companies were started in 2014/5 compared to the previous financial year in the city.

London experienced some of the smallest proportional growth across the UK at just 21 per cent but which, in totality, still demonstrates a significant increase in new start-ups.

The increase in new companies appears to be particularly strong in the Midlands and North; cities in these areas increased proportionately faster than their southern counterparts, including the Capital. Key areas for growth include Bristol, which grew by 40 per cent and Birmingham which grew by 39 per cent.

Tim Rodber, CEO of Instant Offices said: “Demand for office space has been very strong in the regions for the past year but the aggressive growth of starts up in particular shows, in our view, a shift in the balance of the workforce and the way they are working.

SNP MSP Gordon MacDonald said: “These figures show Scotland’s two biggest cities have left London trailing on business start-up growth – highlighting the ‘can-do’ attitude of Scotland’s entrepreneurs who are creating jobs and generating inclusive growth.

“This follows new figures released just yesterday which show a fall in the number of empty shops on our high streets. Overall, there are now 90,000 more businesses in Scotland compared to when the SNP came to office.

“The SNP is committed to helping Scotland’s entrepreneurs start their own business. That’s why the SNP government is supporting almost 100,000 businesses with reduced or removed rates through the Small Business Bonus Scheme.

“While we are encouraged by this further sign that Scotland is getting back to business, we cannot be complacent. If we are to realise our ambitious aim for Scotland to be the real Northern Powerhouse, we must do all we can to unlock Scotland’s entrepreneurial potential – particularly of women and young people.”

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