Density of new start-ups soars across north of England, says research
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.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Rhyl Journal
26 minutes ago
- Rhyl Journal
Reeves says nuclear investment shows UK ‘back where it belongs'
The Chancellor has signed off on £14.2 billion of investment to build the new Sizewell C nuclear plant in Suffolk, while Rolls-Royce has been named as the preferred bidder to build small modular reactors (SMRs) in a programme backed by £2.5 billion of taxpayers' cash. Ms Reeves will use Wednesday's spending review to allocate tens of billions of funding for major infrastructure projects over the rest of the decade. Officials hope SMRs will be cheaper and quicker to build than traditional power plants, and projects could be connected to the grid by the mid-2030s. Ms Reeves said: 'The UK is back where it belongs, taking the lead in the technologies of tomorrow with Rolls-Royce SMR as the preferred partner for this journey.' The SMR project could support up to 3,000 new skilled jobs and power the equivalent of around three million homes, with a first site expected to be allocated later this year by state-owned Great British Energy – Nuclear. Tuesday's announcement of Rolls-Royce as the preferred bidder came after the Government confirmed financial support for Sizewell C. Energy Secretary Ed Miliband said new nuclear power capacity was needed to deliver a 'golden age of clean energy abundance'. Trade unions welcomed the Sizewell move, which the Treasury said would go towards creating 10,000 jobs, including 1,500 apprenticeships. But the head of a campaign group opposing the plant criticised the decision to commit the funding, saying it is still not clear what the total cost will be. Nuclear plants are seen as increasingly important electricity sources as the Government tries to decarbonise Britain's grid by 2030, replacing fossil fuels with green power. The last time Britain completed one was in 1987, which was the Sizewell B plant. Hinkley Point C, in Somerset, is under construction and is expected to produce enough power for about six million homes when it opens, but that may not be until 2031. The Energy Secretary said: 'We need new nuclear to deliver a golden age of clean energy abundance, because that is the only way to protect family finances, take back control of our energy, and tackle the climate crisis. 'This is the Government's clean energy mission in action – investing in lower bills and good jobs for energy security.' It will get the UK off the 'fossil fuel rollercoaster', he separately told The Guardian. 'We know that we're going to have to see electricity demand at least double by 2050. All the expert advice says nuclear has a really important role to play in the energy system. 'In any sensible reckoning, this is essential to get to our clean power and net zero ambitions.' The joint managing directors of Sizewell C, Julia Pyke and Nigel Cann, said: 'Today marks the start of an exciting new chapter for Sizewell C, the UK's first British-owned nuclear power plant in over 30 years.' At the peak of construction, Sizewell C is expected to provide 10,000 jobs and the company behind the project has already signed £330 million worth of contracts with local businesses. The plant, which will power the equivalent of six million homes, is planned to be operational in the 2030s. The GMB union said giving Sizewell C the go-ahead was 'momentous'. Regional Secretary Warren Kenny said: 'Nuclear power is essential for clean, affordable, and reliable energy – without new nuclear, there can be no net zero. 'Sizewell C will provide thousands of good, skilled, unionised jobs and we look forward to working closely with the Government and Sizewell C to help secure a greener future for this country's energy sector.' Alison Downes, of Stop Sizewell C, said ministers had not 'come clean' about the full cost of the project, which the group have previously estimated could be some £40 billion. She said: 'Where is the benefit for voters in ploughing more money into Sizewell C that could be spent on other priorities, and when the project will add to consumer bills and is guaranteed to be late and overspent just like Hinkley C?' The Government has also promised £2.5 billion over five years for fusion energy research and £6 billion of investment for the industrial base supporting the Royal Navy's nuclear submarine fleet.
Daily Mirror
an hour ago
- Daily Mirror
Exact date millions of pensioners will qualify for Winter Fuel Payment
In a huge U-turn, it was confirmed that pensioners will now receive the Winter Fuel Payment this year if they earn below £35,000 a year - we explain the full eligibility below The exact date millions of pensioners will qualify for Winter Fuel Payments later this year has been revealed. It comes after a major change to the eligibility criteria was announced by Chancellor Rachel Reeves this week. Since last year, Winter Fuel Payments have only been paid to those in receipt of means-tested benefits, such as Pension Credit or Universal Credit. These payments used to be available universally to everyone over state pension age, regardless of their income or benefit entitlement. The decision to narrow the scope of Winter Fuel Payments was met with fierce criticism from MPs and charities, who warned the decision would leave many older people in poverty. But in a huge U-turn yesterday, it was confirmed that pensioners will now receive the Winter Fuel Payment this year if they earn below £35,000 a year. Labour says approximately nine million pensioners will receive Winter Fuel Payments in England and Wales this year as a result of these changes. There are different systems in Northern Ireland and Scotland. Winter Fuel Payments are worth £200 for eligible households, or £300 for eligible households with someone aged over 80. Your eligibility will be based on your age by the end of the qualifying week. The qualifying week changes every year, but for winter 2025/26, the Government has confirmed it will be September 15 to September 21, 2025. Rachel Reeves said: 'Targeting Winter Fuel Payments was a tough decision, but the right decision because of the inheritance we had been left by the previous government. 'It is also right that we continue to means-test this payment so that it is targeted and fair, rather than restoring eligibility to everyone including the wealthiest. 'But we have now acted to expand the eligibility of the Winter Fuel Payment so no pensioner on a lower income will miss out. This will mean over three quarters of pensioners receiving the payment in England and Wales later this winter.' If you earn above £35,000 a year, you will still get the payment - but then you will have to pay it back. HMRC will clawback the payment via PAYE, or through self-assessment return. You can choose to opt out of receiving the payment if your earnings are above £35,000, with details to be confirmed. The income eligibility is based per person - but the Winter Fuel Payment will still be issued per household. For example, if you have two people living together and one earns £30,000 a year and the other earns £40,000, one person would keep their share of the Winter Fuel Payment but the other would pay it back. Winter Fuel Payments are paid automatically, with most people normally receiving the cash into their bank accounts from November. Winter Fuel Payments are tax-free payment and do not affect any benefits you may receive.
North Wales Chronicle
an hour ago
- North Wales Chronicle
Reeves says nuclear investment shows UK ‘back where it belongs'
The Chancellor has signed off on £14.2 billion of investment to build the new Sizewell C nuclear plant in Suffolk, while Rolls-Royce has been named as the preferred bidder to build small modular reactors (SMRs) in a programme backed by £2.5 billion of taxpayers' cash. Ms Reeves will use Wednesday's spending review to allocate tens of billions of funding for major infrastructure projects over the rest of the decade. Officials hope SMRs will be cheaper and quicker to build than traditional power plants, and projects could be connected to the grid by the mid-2030s. Ms Reeves said: 'The UK is back where it belongs, taking the lead in the technologies of tomorrow with Rolls-Royce SMR as the preferred partner for this journey.' The SMR project could support up to 3,000 new skilled jobs and power the equivalent of around three million homes, with a first site expected to be allocated later this year by state-owned Great British Energy – Nuclear. Tuesday's announcement of Rolls-Royce as the preferred bidder came after the Government confirmed financial support for Sizewell C. Energy Secretary Ed Miliband said new nuclear power capacity was needed to deliver a 'golden age of clean energy abundance'. Trade unions welcomed the Sizewell move, which the Treasury said would go towards creating 10,000 jobs, including 1,500 apprenticeships. But the head of a campaign group opposing the plant criticised the decision to commit the funding, saying it is still not clear what the total cost will be. Nuclear plants are seen as increasingly important electricity sources as the Government tries to decarbonise Britain's grid by 2030, replacing fossil fuels with green power. The last time Britain completed one was in 1987, which was the Sizewell B plant. Hinkley Point C, in Somerset, is under construction and is expected to produce enough power for about six million homes when it opens, but that may not be until 2031. The Energy Secretary said: 'We need new nuclear to deliver a golden age of clean energy abundance, because that is the only way to protect family finances, take back control of our energy, and tackle the climate crisis. 'This is the Government's clean energy mission in action – investing in lower bills and good jobs for energy security.' It will get the UK off the 'fossil fuel rollercoaster', he separately told The Guardian. 'We know that we're going to have to see electricity demand at least double by 2050. All the expert advice says nuclear has a really important role to play in the energy system. 'In any sensible reckoning, this is essential to get to our clean power and net zero ambitions.' The joint managing directors of Sizewell C, Julia Pyke and Nigel Cann, said: 'Today marks the start of an exciting new chapter for Sizewell C, the UK's first British-owned nuclear power plant in over 30 years.' At the peak of construction, Sizewell C is expected to provide 10,000 jobs and the company behind the project has already signed £330 million worth of contracts with local businesses. The plant, which will power the equivalent of six million homes, is planned to be operational in the 2030s. The GMB union said giving Sizewell C the go-ahead was 'momentous'. Regional Secretary Warren Kenny said: 'Nuclear power is essential for clean, affordable, and reliable energy – without new nuclear, there can be no net zero. 'Sizewell C will provide thousands of good, skilled, unionised jobs and we look forward to working closely with the Government and Sizewell C to help secure a greener future for this country's energy sector.' Alison Downes, of Stop Sizewell C, said ministers had not 'come clean' about the full cost of the project, which the group have previously estimated could be some £40 billion. She said: 'Where is the benefit for voters in ploughing more money into Sizewell C that could be spent on other priorities, and when the project will add to consumer bills and is guaranteed to be late and overspent just like Hinkley C?' The Government has also promised £2.5 billion over five years for fusion energy research and £6 billion of investment for the industrial base supporting the Royal Navy's nuclear submarine fleet.
