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Region is business hotbed - study

Published on: Monday 27th April 2015
Categorised under: Work , Business, Economy, Investment

Over a quarter of the 565 startups across Cumbria this year were created in South Lakeland, that’s 154 new businesses.

According to Ginny Murphy, senior data analyst at the Cumbria Intelligence Agency believes that this is due to the booming small business culture in the region, where many individuals set themselves up as sole traders and self employed.

The most recent Labour Market Briefing - created by the intelligence observatory - revealed the impressive figures.

She said: “South Lakeland is a big geographical area, and to get a more accurate picture it might be worth looking at the number of businesses set up related to the population.

“South Lakeland comes out on top pretty much every month in terms of the number of new businesses and this is due to the culture in the region where a lot of people set up on their own as sole traders or registering as self employed.

“If you look at the data about number of new businesses in relation to the number of existing operations in the area, then Barrow and Copeland come out on top, but this is due to those regions being dominated by one big employer.”

The number of annual startups in South Lakeland per 10,000 working age residents came out at 1,168, also the highest in the region, though the area does have a relatively low number of people of working age.

While there are differing interpretations of the data, Liberal Democrat parliamentary candidate for the area, Tim Farron said: “Seeing so many entrepreneurs setting up their own businesses is fantastic and shows that our area is the start-up hub of the county.

“These businesses are creating more jobs and more wealth; all of that is re-invested in local shops and our high street."

Behind South Lakeland in the number of startups this quarter was Allerdale with 102, Carlisle with 100, both Barrow and Eden both had 77 startups in the region and Copeland had 55.

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