Research from Barclays highlights the new enterprise hubs in northern towns and cities that show spread of entrepreneurial ecosystems across UK
When we talk about Britain’s entrepreneurial hotspots, London often tends to dominate the discussion. Of course, there’s no doubting that the capital is a great place to start a business. However, it’s also pretty clear that the UK’s business ecosystem doesn’t begin and end with the city. As new research from Barclays and the Economist Intelligence Unit reveals, entrepreneurial hubs are springing up around the country, bringing together talent from all parts of the UK.
As well as identifying definite growth in the number of enterprises starting up outside of London and the south-east, the research also revealed the existence of a corridor stretching from Liverpool to York in which the number of startups was booming. Additionally, it found that identifying areas as ‘innovation hotspots’ has a pronounced effect on rallying startups to a certain area and boosting the numbers of teams ready to launch a new business.
But whilst we’re definitely a step closer to a more fertile environment for enterprises nationwide, the report also suggested there is plenty more we can be doing to bolster growth and support for startups. These included:
- Encouraging entrepreneurial hubs beyond traditional city boundaries
- Strengthening ties between education systems and the business community
- Removing demographic-specific barriers to entrepreneurialism
- Better matching the funding needs of entrepreneurs
Antony Jenkins, CEO of Barclays, said: “Entrepreneurs will thrive across the UK if conditions are put in place that allows them to do so. This research shows that business, the education sector and government can all do more to create thriving entrepreneurial ecosystems across the UK.
“The Northern corridor is an example of a successful hub establishing itself outside London and the south east. It shows it can be done. The challenge now is for all interested parties to do more to create those conditions elsewhere.”