Lancashire ranked as manufacturing hotspot

LANCASHIRE is one of the top ten locations in the UK for building a new manufacturing business.

Figures from Barclays show that between 2009 and 2011 there have been 1,390 manufacturing start ups in the county.

Lancashire is fourth in the UK behind Birmingham, Kent and Essex, research from the bank shows.

According to Barclays manufacturing start ups have the highest average turnovers of all business start ups. Over 16% achieve a turnover greater than £100,000 in the first three years, compared with an average of 10% for non-manufacturing businesses.   

Martin Baker, head of relationship banking for Barclays in North West  said: “Behind these businesses are the people who are building the UK’s manufacturing future. They are creating new jobs, driving innovation and utterly disproving the idea that the UK doesn’t manufacture.

“At heart, Brits want to make things. We’re good at it and the quality of our product is often exceptional, thanks to a highly educated, skilled working base. The UK has a world-class reputation for manufacturing excellence.

“These start ups are building businesses for which the sky is the limit. A healthy turnover in manufacturing in the early years can lead to one, two, ten million pound businesses in a handful of years.”