Is there evidence to suggest GM is more or less entrepreneurial active than other regions or sub regions? We can use as a definition the number of VAT registered businesses per 1,000 resident adults aged 16+ as a basic measure of enterprise.
Using this “enterprise index”, the national average for England is 41.9 compared to 35.0 in the North West and 34.4 in Greater Manchester. Compared to the other North West regions, Merseyside (24.5) is the lowest with Cheshire (46.8) and Cumbria (48.0) the highest. Lancashire is the modal (37.7). Particular “hot spots in the North West are Congleton (49.8) Macclesfield (64.1) South Lakes (62.6) and Penrith / Eden (78.4).
Amongst the AGMA authorities Trafford and Stockport top the list with Wigan, Tameside, Rochdale and Oldham in the lower section of the table.
pro.manchester Enterprise Index
Trafford 49.4
Stockport 45.4
Bury 35.4
Bolton 34.0
Salford 33.5
Manchester 33.4
Oldham 30.6
Rochdale 30.4
Tameside 29.6
Wigan 28.0
Average 34.4
England 41.9
The good news is the number of SME’s in Greater Manchester is growing.
Over the period of fourteen years analysed the number of businesses registered for VAT increased by just over 11,030 an average of 787 per annum. This number relates to the net new business statistics, since on average in any year, 7,000 new businesses register for VAT and 6,288 businesses de register for VAT. Almost all of the additions are in Business, property and related services. High tech, Clean Tech, Bio Tech, any tech are important but Greater manchester is a service sector economy with a strong Business and Professional Services Sector.
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The views expressed are my own and in no way reflect pro.manchester policy. In no way should the comments be considered as investment advice or guidelines. UK Economics news and analysis : no politics, no dogma, no polemics, just facts. The blog post is part of the pro.manchester research into Innovation and Enterprise.
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