Entrepreneurs are driving Britain’s economy

Business-minded Brits are not letting the economic climate dampen their entrepreneurial spirit.

The second Barclays Entrepreneurs Index shows the second half of 2012 brought a 14% rise in the number of firms with shares changing hands, indicating an interest in investment. The report claims that across the UK and Ireland, 24,000 growing companies had shareholder changes from the start of July to the end of December last year, up from 13,000 in the first six months of the year and 21,000 in the second half of 2011.

These figures suggest an increase in entrepreneurs in Britain and that companies are expanding.

Industrial sector growth

The research from Barclays also shows that companies where shares were changing hands were also becoming healthier financially. In the second half of 2011, profits among these firms were £1.3 million but this rose to £1.7 million in the first half of 2012 and then £2 million in the second half.

The most entrepreneurial activity was seen in the industrial sector, which is mainly made up of manufacturing firms.  This saw a 30% rise in the number of companies with shares being bought and sold in the second half of last year. And the figures showed that the biggest revival in manufacturing was taking place in Yorkshire, Wales and the North West.

Bizspace has a range of industrial units in Yorkshire and the North West for manufacturers looking to move into a new space. You can search online to find a unit near you.

A shift in confidence

Alan Edwards, Director of Barclays Wealth and Investment Management in Manchester, says: “As the birthplace of the Industrial Revolution, we know that the North West’s economy is underpinned by the manufacturing sector. From our work on the ground with local clients, we are seeing a noticeable shift in activity and confidence within the industrial sector, which has had a knock-on effect for other businesses in the region.”

Richard Phelps, Managing Director of Barclays Wealth and Investment Management, says the changes are ‘encouraging’.

“Since our inaugural Entrepreneurs Index report last autumn, we have watched with interest how the picture for business activity in UK and Ireland has shifted,” he said.

“It is encouraging to see that active companies have shown not only resilience in the face of instability, but even growth in certain sectors. The rise in profitability of these companies, the resurgence of traditional industries, and prosperity for younger sectors such as technology, as well as reinvestment made by entrepreneurs post-exit, is further proof that entrepreneurs are the engine room of the British economy.”

How Bizspace can help

At Bizspace we are the ideal choice for entrepreneurs, offering flexible business space however small or large your company is. If you are launching a start-up business, you will love our flexible leases, which mean that we customers are not tied into costly long-term overheads.

You can move in immediately and will have the freedom to move into a larger workspace as you develop and experience business growth.

We offer fully-furnished serviced offices in some of our centres, for businesses which want to start operating straight away without the hassle of setting up, as well a wide selection of additional products and services to help your business flourish.