2015 Northern Ireland is the best place to start and grow a business More young businesses reach £1m in sales in Northern Ireland than anywhere else in the UK Search - enhanced by OpenText Home Video News World Sport Finance Comment Culture Travel Life Women Fashion Luxury Tech Cars Film Budget Companies Comment Personal Finance ISAs Economy Markets Property Enterprise Deals Telegraph Investor HOME » FINANCE » BUSINESS CLUB Email 142 173 0 246 561 News > Business > Business Comment NEWS VIDEO PEOPLE VOICES SPORT TECH LIFE PROPERTY ARTS + ENTS TRAVEL MONEY INDYBEST STUDENT OFFERS UK World Business People Science Environment Media Technology Education Images Obituaries Diary Corrections Newsletter Appeals PRINT A A A Where are Britain’s small businesses performing most strongly? If your instinct is that London, where the economy is growing faster than in the rest of the country, is the place to look for small business success, you’re right – but also wrong. Research published last week jointly by the Enterprise Research Centre and the Business Growth Service paints a fascinating picture of the geographical diversity of small businesses – and suggests the progress they make and the challenges they face are far more nuanced than policymakers may understand. Take London, for example. With around 90 start-up businesses for every 10,000 people in the population over the past 12 months, it is miles ahead of anywhere else on business creation (the average figure across the country is 50 or so). But London is close to the bottom of the table on start-up survival rates – just one in two businesses started in the capital three years ago are still trading. Looking for a high-growth business? Then your best bet is to talk to start-up companies in Northern Ireland, where 11 per cent of launches in 2011 were turning over at least £1m by 2014 – the national average is closer to 6 per cent. Or maybe try the Thames Valley, where 9 per cent of companies with a turnover of between £1m and £2m in 2011 had grown that to £3m by 2014, a larger proportion than anywhere else. The research also suggests that businesses based in different part of the country are struggling to overcome different types of obstacles. In London, the most significant issue appears to be Local differences in the conditions for start-ups need to be recognised Small Talk DAVID PROSSER MONDAY 22 JUNE 2015 51 ADVERTISING More ON THIS TOPIC LSE chief sees debt as threat to economy UK retail spending rises 4.6% in May Start-up map shows enterprise hotspots UK construction data show firmer recovery IN UK BUSINESS & ECONOMY Graduates set a record for finding jobs Is a new City era dawning? Pellets add fuel to fire in Liverpool port Wealth managers shun moderately rich Sign up now FirstFT is our new essential daily email briefing of the best stories from across the web Share Author alerts Print Clip Gift Article Comments June 22, 2015 12:02 am Kate Burgess and Andrew Bounds The mood of entrepreneurs and small businesses has picked up in the second quarter since the election, with revenues, profits, staff levels and wages all rising. Entrepreneurs’ commitments to invest more in their businesses over the next 12 months reached highs not seen since 2010, according to a survey by the Federation of Small Businesses. The FSB’s findings follow work published last week by academics at the Enterprise Research Centre in Birmingham who said the rate of growth among the UK’s small and medium-sized enterprises and start- ups was back at pre-financial crash levels in 2008. The FSB’s findings also echo a more positive mood among small quoted businesses, with one manager of a portfolio of investments in fledgling public companies saying she had not seen such confidence for years. She said “the lid lifted” after the election, ending months of uncertainty. Official data published last week showed average weekly pay for employees increased 2.7 per cent in the three months to April and real earnings growth was at rates not seen since September 2007. The FSB, which has 200,000 members, many self- employed, said levels of spare capacity, which affects interest rate decisions, have dropped from 47.7 per cent to 40.7 per cent. But it added rising confidence was lifting productivity “which should be encouraging to policy makers, who have been grappling with the issue of low productivity growth Home UK World Companies Markets Global Economy Lex Comment Management Personal Finance Life & Arts Africa Asia-Pacific Europe Latin America Middle East & North Africa UK US & Canada Science & Environment World Blog Tools Mood improves among small businesses ©Costcutter ft.com > uk > Business & Economy You are signed in Northern Ireland is home to the most entrepreneurs who achieve a £1m turnover within three years of starting their company, a new report that plots UK small business growth has shown. According to the Enterprise Research Centre (ERC) more Northern Irish small companies reached the 'magic milestone' between 2011 and 2014 than anywhere else in the UK. The country has a 10% average for firms hitting the mark with small companies in the west and south regions of the country leading the way followed by 9.7% of companies based in Belfast. The Northern Ireland average for £1m turnover firms compares to 7.9% in London and 6.2% in England overall. Cumbrian firms have the lowest proportion with 2.2% reaching £1m. Professor Mark Hart, deputy director of ERC said: "Part of the story in Northern Ireland is long-standing policy infrastructure, a commitment by government and its agencies to invest in the enterprise agenda from startup through to growth. "Local policy, through the Department of Enterprise, Trade and Investment and its agency Invest NI, working with partners on the ground, seems to be making a difference. Sign In Become an EN member Want a £1m turnover business? Go to Northern Ireland 17/06/2015 in Growing your business and Starting your business Blog Events Membership Resources Campaigning