New report from BGF and Barclays finds UK start-up activity rises in first half of 2013November 2013 | Feature
With the UK economy seemingly on the way to a sustained recovery, business confidence and entrepreneurialism also seem to be on the rise according to a new joint report from BGF and Barclays.
The Entrepreneurs Index, which tracks the full entrepreneurial lifecycle using data to measure start-ups, growth and share sales, has found that the number of start-ups and high-growth companies has climbed in the past year in the UK. This is the first report of what will be an ongoing series.
Using data from Experian, Companies House, Office for National Statistics, StartUp Britain and YouGov, the report gives a telling insight into the state of the UK’s entrepreneurial activity and reveals that there has been a 3.4% rise in the number of active companies in the first six months of this year, taking the total number of companies in the UK from 2.73 million at the end of 2012 to 2.82 million at the end of the first half of this year.
The proportion of high-growth companies in the UK has also shown an impressive increase, from 17.4% in 2011 to 20.5% in 2012. This means that one in five of these companies can now be defined as high-growth. Read the full report to see how we have defined ‘high growth’ companies.
The report also gives a fascinating breakdown of the activity across the regions of the UK and provides a revealing look at which regions make a vital contribution to its economic growth. If you are interested in which two Scottish cities outside the South East are included in the top ten cities with highest start-up rates in 2011, then it is worth reading the full report. Similarly the report reveals which part of the UK attracts the highest value of angel investment, second only to London and the South East.
At BGF, we recognise that these types of businesses are an integral part of the economic recovery and through a deeper understanding the entrepreneurial talent in the UK, we can better provide the right finance and networks to help their continued growth and development.
The report, hosted on the Barclays Wealth website, also features interviews with BGF CEO Stephen Welton and Richard Phelps, Managing Director, Barclays Wealth and Investment Management.
The full BGF and Barclays Entrepreneurs Index can be read here.