The Bibby Financial Services Business Factors Index revealed that Aberdeen is currently the leading city in Scotland when it comes to business start-ups with the city currently riding high above Glasgow and Edinburgh in the entrepreneurial stakes.
The number of firms rose 5.3 per cent in Aberdeen according to our research, while Scotland as a whole saw a rise in enterprise of 3.7%. Aberdeen’s new enterprises rose to 8,705 by March 2014, in Edinburgh enterprises’ rose by 5.2% to 15,955 and Glasgow saw start-up growth of 4.2% to 15,320. While this is very positive news for Scottish business, the figures still lag behind those of English cities.
Manchester and Liverpool
Two cities in the North of England, both saw the number of new companies rise by over 8%. Manchester and Liverpool are leading lights when it comes to new business start-ups and they’re closely followed by Cardiff, Birmingham, Bristol and Reading who also saw an increase in entrepreneurial activity, with growth in new firms ranging between 6.9% in the Welsh capital and 5.6% in the Thames Valley city.
The figures from Aberdeen and other Scottish cities show that Scotland’s overall activity is improving, with a rise across the board in entrepreneurial activity. The Scottish business community is growing and this can only be positive for the economy of the UK. Scottish business owners are bullish about future growth and a number of businesses are planning expansion and investment over the next 12 months.
In Q2 2014 Bibby Financial Services released the Scotland Report which came from a survey of over 500 private sector businesses in Scotland with turnover up to £25m. The research found that business owners and decision makers were confident in Scotland, even despite the referendum which was then on the horizon.
The report also found that sales activity was on the increase and that further investment into businesses was expected in 2014. Here at Bibby Financial Services we’d hope to see continued investment and entrepreneurial confidence in Scotland throughout 2015.
BIBBY FINANCIAL SERVICES
As the UK’s leading independent invoice finance specialist and a trusted provider of cashflow funding to over 7,000 businesses, Bibby Financial Services provides a range of finance solutions for companies in over 300 industry sectors.
For more information about Bibby Financial Services’ cashflow solutions, visit: www.bibbyfinancialservices.com or call 0800 91 95 92.