York creating more new businesses

14/06/2010

York looks set to bounce back from the economic crisis quickly as research reveals it exceeded the UK average for new business creation.
In the year to January 1 the city saw a net total of nine new business per 10,000 people created - in comparison to the UK average of eight new businesses per 10,000 people, York-based accountant UHY Calvert Smith found.
The figure means that York is 12th on the list of the UK's top 50 biggest towns - with London topping the list after forming 24 new businesses per 10,000 people.
UHY Calvert Smith partner Hayden Priest said: "York's position on this list will be good news for the city's business community and is testament to York's entrepreneurial spirit.
"Of course, new businesses by definition are likely to be quite small and will not necessarily make up for the loss of jobs and revenue suffered when bigger companies fold. Nevertheless, these statistics suggest that York is well placed to bounce back quickly from the recession."
In comparison, coastal towns including Sunderland, Swansea, Southend-on-Sea and Blackpool were at the bottom of the list with more businesses closing than being created.
In response to the figures, UHY Calvert Smith launched a business plan review service aiming to help attract investment for small businesses and entrepreneurs.
Mr Priest added: "One of the universal reasons why new business ideas fail to get off the ground is a lack of proper, structured and swift feedback on their business plans.
"The crux of this service is exactly that - to refine business plans and give them the best chance of raising the funds they need."
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