150,000 UK businesses have been analysed to show business growth rates over the last 5 years. The research, carried out by information services company Experian, determined that 32% of businesses had achieved strong sales growth rates by the end of 2011, compared to just over a quarter between 2008 and 2010.
Hull is the city to see the biggest increase, with 36% of business in the area achieving revenue growth of over 10% between 2009 and 2011, compared to 22% between 2008 and 2010.
The top 10 areas with the highest levels of improved sales growth, comparing 2008-10 with 2009-11, are as follows:
The top 10 to see the highest retained levels of sales growth are:
- London SE
- London EC
- London WC
- London SW
- London W
- London NW
The research showed that all of the most improved sales growth areas were in the Midlands or the North, with the exception of Newport. These results are surprising considering the strain on businesses during a recession.
UK Managing Director of Experian’s Business information Services division, Max Firth, commented on these surprising results. “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.”
Are you based in one of the top 10 areas for sales growth? Do these results ring true to your business? Comment below.
Fill in the form to be the first to receive our news.