Burnley is one of the best places in the UK to start a new business according to research.
The research from business information website Informi, gathered data from the largest towns and cities, defined as primary urban areas from 2013-2015, saw Burnley competing with cities like London, Leeds and Manchester in the league table.
Burnley ranked 11th out of 65, which was an increase of 22 places from the last research carried out.
Burnley MP Julie Cooper said: “This is really good to hear.
“So much hard work has gone into making Burnley an extremely business friendly town and clearly it is paying off.
“Not only are new businesses starting up in our town, but because we have such a pro-business ethos, we are seeing businesses relocating to Burnley from neighbouring towns and areas.”
Informi studied information from 65 UK towns and cities relating to a number of factors that can be important for smaller company survival, including the density of small and medium sized businesses (SMEs), digital connectivity and house prices.
Darren Nichols, product manager for Informi said: “The UK is on track for a record number of start-ups this year, demonstrating that the nation’s entrepreneurial spirit is as strong as it’s ever been.
“New businesses can be found across every region and industry, bringing new jobs, prosperity and growth to their local economies.
“It is encouraging to see that London is not the only environment where small businesses can thrive but for every success story there are still far too many that struggle to get off the ground.
“SME owners should ensure they take every opportunity to seek out information, support and guidance, to help them get the fundamentals in place to succeed.”
The research focuses on the UK’s 65 largest cities and towns, defined as primary urban areas.
The data used in this study covers statistics from 2013 – 2015 was collated from the following sources:
• NOMIS, mid-year population estimates;
• The Office of National Statistics demographic survey and Business Structure Database – SME start-ups, SME closures, SME density, high growth SMEs;
• Ofcom Connected Nations Report – Superfast broadband penetration rate;
• Land Registry/Scottish Neighborhood Statistics – House Prices;
• The Department of Energy and Climate Change – CO2 Emissions;
• Data collation – Centre for Cities.