New study identifies that UK’s fastest growing businesses meeting local demands
A new report has revealed the UK has seen an uptick in new bookshops, clothing retailers, and takeaways, particularly across London, Birmingham and Manchester. Making their mark on the UK economy, the number of businesses specialising in retail, food, and entertainment services has grown the most since 2017.
Tyl by NatWest, the payments partner supporting UK SMEs and micro businesses, commissioned the Evolving Enterprise Index, showing the fastest growing and fastest emerging industries across the UK’s largest cities.
In partnership with Data City, Tyl by NatWest analysed data from Companies House, showing the number of businesses newly opened in some of the most economically significant industries between 2017 and 2022. Representative of Britain’s diverse business landscape, the research showcases entrepreneurial development from the top 14 urban hubs across the UK, confirming that Britain remains a thriving environment for fledgling small and medium sized enterprises.
The Evolving Enterprise Index paints a picture of growth for Portsmouth’s sports clubs, Edinburgh’s Garden centres, and Belfast’s fitness outlets, showing that Britain’s heritage of innovative entrepreneurship still has a bright future ahead.
