The North of England has recorded rapid growth in the number of small business being launched, according to new research.
Analysis by GoDaddy UK and Ireland shows that 40% of the areas with the fastest growth in the density of start-ups and small business were in the North.
Andrew Gradon, head of GoDaddy UK and Ireland, said it highlighted that investment through the Northern Powerhouse initiative appears to have boosted regional growth.
The Northern Powerhouse was an initiative started by the coalition Government from 2010, using local enterprise partnerships across the regions to help drive growth.
Of the 50 constituencies with the fastest growing number of small businesses, 20 came from “Northern Powerhouse” areas, according to the Venture Forward report.
This compared with nine in the south of England and was twice the figure across the region last year.
Towns such as Barrow-in-Furness, Cumbria, Burnley in Lancashire, and Birkenhead, Merseyside, have seen a significant increase in small business growth compared with last year, of more than 70%.
Mr Gradon said: “While small businesses flourish across the nation, the North has proven to be a hub of entrepreneurial spirit.
“A decade on from the introduction of the Northern Powerhouse Investment Fund, the investment is clearly having an impact on the start-up economy.
“Importantly, it proves that being a small business doesn’t mean having small ambitions, nor does it mean small impact.
“Small businesses will have a key role to play in unlocking the North’s longer-term potential, benefiting the region hugely by providing new jobs and opportunities.
“However, the same can be said for all areas, because when local entrepreneurship thrives, we all thrive.”
