Average turnover for British business revealed as £505.5k
The national average turnover for a British business has been revealed as £505,644.33 according to research conducted by ICAEW Business Advice Service. The BAS Business Heat Map analyses average annual turnover of businesses according to the constituency in which they are based.
Key findings include:
– West Bromwich, Hull, Leeds & Sheffield ranked in top five highest average turnover
– Four of bottom five for lowest average turnover are in Wales
– London constituencies rank top and bottom of the league table
Ranking businesses by Britain’s 632 parliamentary constituencies, top of the average turnover list is the Cities of London & Westminster with an average of £1,038,536.70; however, the rest of the top five positions are taken up by regions in the north: West Bromwich, Hull, Leeds and Sheffield.
The figures are linked to the concentration of high turnover businesses in each constituency. East Hull’s high-ranking performance in the table can be attributed to a number of large businesses in the region, such as Paneltex, a highly successful manufacturing company.
Although a London constituency tops the table, the lowest average turnover is Streatham, South London, with £280.422.58 – the average for a London postcode is £560,403.34; the next four lowest average turnovers are taken up by constituencies in Wales see chart.
By country, businesses in England turn over on average £510,866.81 per year (with a north-south divide of £515,829.77 and £507,659.35 respectively), while those in Scotland and Wales turn over an average of £485,100.44 and £430,140.07 respectively.
British constituencies with highest average annual turnover per business
Constituency Average turnover (£)
1. Cities of London and Westminster £1,038,556.70
2. West Bromwich West £893,224.95
3. Kingston upon Hull East £880,933.07
4. Leeds Central £856,255.47
5. Sheffield South East £840,341.58
6. Sheffield, Brightside and Hillsborough £784,666.19
7. Islington South and Finsbury £783,403.78
8. Holborn and St Pancras £781,918.64
9. Birmingham, Ladywood £770,605.79
10. Bermondsey and Old Southwark £765,421.49
Source: BAS Business Heat Map
British constituencies with lowest average annual turnover per business
Constituency Average turnover (£)
1. Streatham £280,422.58
2. Ceredigion £284,642.36
3. Dwyfor Meirionnydd £288,858.62
4. Carmarthen East and Dinefwr £290,502.30
5. Brecon and Radnorshire £291,578.45
6. Copeland £296,660.74
7. Sheffield, Hallam £296,887.92
8. Wirral West £303,477.76
9. Islington North £304,009.85
10. Dulwich and West Norwood £305,080.80
Source: BAS Business Heat Map
Stephen Ibbotson, ICAEW director of business, said: “The BAS Business Heat Map is an interactive, visual representation of average turnover by constituency in England, Wales and Scotland. There are obviously some surprises but we need to remember that one large and/or very successful business in a constituency can impact on results. We hope the map encourages people to take an interest in the economic landscape of their local area and perhaps be spurred on to start a business of their own.”
