Yorkshire cities lead the way in business growth study

HULL has topped the table as the city where businesses experienced the highest level of improved sales growth in the country, according to a new report.

A study published by Experian revealed that between 2009 and 2011, over a third of businesses in Hull achieved revenue growth of more than 10% per year compared to the 2008-2010 period when only 21% of businesses in the city were achieving this level of growth.

Experian’s BusinessIQ analysis shows that pre-2008, approximately one third of businesses in the UK achieved sales growth in excess of 10%, but this figure fell to a quarter during 2008-2010.

The latest analysis has found that by the end of 2011, 32% of businesses were back to achieving strong sales growth rates.

The study, which analysed the most recent set of available accounts of 150,000 UK businesses that reported turnover between 2008 and 2011, reveals the towns and cities that saw the highest proportion of businesses reporting strong growth in sales in each of the two-year periods 2008-2010 and 2009-2011.

Sheffield came in at number nine in the list of the top ten cities with the most improved sales growth, with 31% of businesses seeing revenue growth in the 2009-2011 period compared to 23% between 2008 and 2010.

Max Firth, UK managing director for Experian’s business information services division, said: “Many of the towns and cities highlighted as showing the biggest improvements in sales growth were widely believed to be struggling during the period analysed.

“Places like Stoke-on-Trent, Hull, Wolverhampton and Birmingham are incubating some strong businesses that have demonstrated the ability to grow significantly, even in the tough economic climate that existed between 2010 and 2011. If businesses such as these can be nurtured to sustain their growth, it should lead to improved prosperity for those areas.

“The businesses themselves need to harness opportunities through careful monitoring of the business climate, so that they can actively seek growth opportunities and minimise risk.”

Comparing more than 45 sectors, Experian’s analysis also found that manufacturing dominated the top five most improved industries, with manufacturing of rubber and plastic goods topping the table with 39% of businesses in this sector reporting high growth rates in 2011 compared to just 17%  in 2010.

Outside of manufacturing, labour recruitment and provision of personnel and land and water transport industries ranked highly.

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