Business start-up and survival rates in Denbighshire are improving

Denbighshire County Council is reassuring businesses that the County is a great place to do business and that business start-up and survival rates are improving.

Figures released by Lloyds Banking Group suggest a reduction in business start-ups in the County between November 2011 and November 2016, based on the take up of products from a number of banking groups.

But in Denbighshire the number of active enterprises increased between 2011 and 2015 from 3135 to 3330, while the number of ‘business births’ has increased from 280 a year in 2012 to 350 in 2015.

Business survival rates are very good in the County and show 95 per cent (up from 91 per cent in 2011) of firms opening in Denbighshire continue to trade for at least one year, while more than 60 per cent (up from 52 per cent in 2012) are still trading three years on, which is comparable to the Welsh average.

Cllr Hugh Evans OBE, Denbighshire’s Lead Member for the Economy, said: “As a Council we feel the data presented by Lloyds Banking Group does not represent the full picture.

“The situation in Denbighshire is very positive, with more businesses operating in the County now than in 2011, a healthy number of business start-ups combined with really positive survival rates. We feel this is a much better indicator of success.

“The message we want to send to businesses is that a large majority of those that start in the County survive beyond three years. That makes Denbighshire an excellent place to start a business.

“Denbighshire, and its partners, are working hard to support businesses as part of its Economic and Community Ambition Programme by offering a wealth of advice and support to businesses, providing grants to assist firms looking to expand, as well as streamlining the regulation process to save traders time and money.

“By providing a supportive and business friendly environment - a key Council priority - we’ve helped to make Denbighshire an excellent place to start and run a business.

“We have also made it easier for businesses looking to relocate to the county by offering a quick and professional service. An example of this having a positive effect was the recent £6million investment by the Real Petfood Company at Bodelwyddan.”

A recent survey of Denbighshire businesses found more firms were looking to maintain staff numbers (82 per cent) and are expecting sales and profitability to improve (64 per cent) than in the 2015 survey.

The survey, undertaken by BE Group, which had 496 respondents, also found more firms (54 per cent) were expecting to invest in capital, up from 37 per cent in 2015.

Results 2016

Denbighshire County Council will soon be announcing details of its annual March for Business month, a series of free networking, advice and workshop sessions for businesses both small and large. 

There will be a wide-range of events covering topics including retail skills, starting a new business, digital skills and how to create a healthier and happier working environment.

For more information on March For Business contact econ.dev@denbighshire.gov.uk or 01824 706896 or follow @ebddcc on Twitter.

 

Note to editors: Figures presented by Denbighshire County Council were collected from the Office of National Statistics (ONS) and are current to the end of 2015. 

Full details of Denbighshire County Council’s 2016 Business Survey are available here

Figures from Lloyds Banking Group, which show there were 744 business start-ups in Denbighshire  between November 2010- 2011, down to 493 between November 2015 -2016, are based upon the following criteria:

In this research a ‘start-up’ reflects the opening of a first current account from a small business banking product range.

The data represents businesses new to banking or those previously operated through a personal account. 

Data is from the main suppliers of business banking services: Barclays, Co-operative Bank, HSBC, Lloyds Banking Group, Royal Bank of Scotland Group, Santander and TSB Bank.

This data excludes businesses operating through personal accounts, those without banking relationships or those banking with other institutions.

 

Posted on Friday 13th January 2017