Why Lancashire is booming, with a record year for startup businesses

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According to recent figures, more companies were set up in Lancashire in 2016 than any other previous year – how come?

As reported in Lancashire Business View, towns like Blackburn, Fylde and Blackpool each saw well over 1000 companies registered.

These helped contribute to an overall total of more than 10,600 – a number that doesn’t surprise our commercial property consultant, Tim Jackson-Smith.

‘Lancashire as a wider community has always encouraged and embraced entrepreneurial spirit.

‘It goes to show that healthy economic growth doesn’t need to be restricted to the south east or larger cities – local business people should feel encouraged.’

Support for Lancashire startups

Of course, record numbers of new companies counts for little if they don’t continue to grow following establishment.

The fact that not only are the stats record breaking but they’re also part of a continued growth trend, indicates this development is happening.

If entrepreneurs couldn’t access the right help and advice in Lancashire, these numbers would surely have started to decline as they looked elsewhere.

The fact that ‘all the lines are going up’ shows that new businesses in Lancashire can be confident that the support is available locally.

Tim Jackson-Smith highlights what is underpinning this increasingly positive development in Lancashire’s business community.

‘Most people who start a new business will hear a hundred times about the likelihood of failure within the first year.

‘But as often as not, it will be things like admin, lack of investment, recruitment, slow payments and so on that force this – not poor products and services.

‘If an idea is good enough and has a potential customer base, then for it to fail through lack of help in such areas is a shame.

‘These new figures show us that Lancashire startups are now finding the assistance they need to flourish.

‘Whether that’s financial and legal support, startup advice or partnering with organisations – clearly the county is able to provide these.

‘And it’s particularly good to see such positive figures, considering the uncertain political climate we’ve experienced recently with Brexit and the like.’

What does your new business need?

If you’re a business startup owner or thinking of establishing a company in Lancashire, speak to one of our business specialists to see how we can help.

We’ll remove some of the obstacles you may face, leaving you free to build your business the way you want, without getting tied up in red tape.