Blackburn and Darwen are among the UK’s most entrepreneurial towns, new data has revealed.
According to new research by SME insurance provider, Superscript, Blackburn along with Darwen will be the second most entrepreneurial city in the UK for 2022.
Analyzing new data released by the Office for National Statistics, Superscript has calculated that between 2021 and 2022, the number of small businesses in Blackburn with Darwen authority will increase to 470, representing 9.2 percent of increase.
Cross-referenced with the latest population figures, this gives Blackburn with Darwen a ‘small business per capita’ score of 0.30.
This is in contrast to the national trend, with the number of small businesses across the UK falling by 83,000.
This growth was largely driven by the wholesale sector, which grew by 340 small businesses, representing a 94 percent increase.
Superscript’s nationally representative survey of 1,000 new small business owners suggests that the cost-of-living crisis appears to be a factor in many new businesses.
Seven out of ten respondents (70 percent) of the survey agreed that the cost-of-living crisis prompted them to start a business to increase their salary.
72 percent indicated that they set up a business because of the potential to earn more than their current job.
The survey also suggested that the right infrastructure (15 percent), access to talent (15 percent), and where entrepreneurs already live (14 percent) are the most influential factors behind small businesses that established the locations they did. .
Business people believe their local areas could be most improved through more government funding for local infrastructure (28 per cent) and lower commercial rents (21 per cent).
84 percent said they are positive about the future of their business despite macroeconomic challenges.
Cameron Shearer, co-founder and CEO of Superscript, added: “Blackburn along with Darwen did not feature in the top 10 in 2021, so the way cities embraced entrepreneurship last year is even more impressive against the backdrop of a national.reduced small businesses.
“It’s a difficult time for entrepreneurs today, but history has taught us that challenging times are when good ideas and innovations are born, that businesses grow quickly. That’s why being- flexibility and adaptability have become the most important insurance requirements of the small businesses that come to us for coverage.”
Jackie Mulligan, Founder of ShopAppy, an online platform for local shops, and Government High Street Task Force Expert, said: “Transforming our high streets into more experiential spaces is one positive opportunity for hospitality businesses in particular.
“It is clear that the growth of businesses in these locations is also connected to the positive efforts of local partners, councils and business improvement districts, strong, supportive communities and effective business network – all key for entrepreneurs in this challenging climate for local economies”
To see the full research, methods and resources for local entrepreneurs in these areas, visit: www.gosuperscript.com/most-entrepreneurial-locations