Summary of Start-Ups Report for December 2014
Once again good news for Spelthorne in December's Start-up trends report with 55 new businesses starting in the borough in the final month of the year. Although this is down 10 from November, this slight fall reflects the trend across Surrey with the number of start-ups falling from 761 to 695.
A 'Start-up' reflects the opening of a first current account from a small business banking product range
In terms of the rate of growth, the figures are once again very positive with Spelthorne rising to 24nd out of the 326 English borough and districts from 32nd in November. The year-to-date growth rate of 2.9% means Spelthorne remains the fastest growing borough in terms of the number of new businesses in Surrey and we are again the only borough with positive growth. The figures fair favourably with Surrey as a whole (-8.0%) and our adjoining boroughs of Elmbridge (-11.9%) and Runnymede (-11.8%,) as well as bucking the trend of the rest of the country which has seen negative growth.
These figures can be attributed to the continuing trend across the UK of people offsetting job losses and redundancies by starting their own businesses, however the slight fall in the numbers of new business may partly explain why the number of people claiming JSA remains at 525.
To conclude, 2014 saw Spelthorne's number of new businesses grow by nearly a quarter at 22.2% for the year, the second highest in Surrey after Surrey Heath (38.5%) and well above the national average of 4.5%. A great way to start the year!