According to a study carried out by EY, entrepreneurs in Yorkshire and the North of England are capitalising on large opportunities to grow in the UK.
Companies led by entrepreneurs across the North of England have achieved a 24 per cent growth in their turnover during the past year, beating their counterparts in the south of England and London by 19 per cent, the Midlands by 12 per cent and Scotland by 17.1 per cent. These figures are the results of an analysis of 128 businesses which have enjoyed fast growth.
The figures have been supplied by companies who made it to the final of EY’s ‘Entrepreneur of the Year’ competition which was split evenly across the United Kingdom. The winner of the Entrepreneur of the Year award is James Lambert who is the chairman of R&R Ice Cream, a Yorkshire-based company which owns brands including Skinny Cow, Kelly’s of Cornwall and Fab. R&R Ice Cream started out by employing just five people and now has a work force of almost 3000 with an annual turnover of just under £750 million.
EY Partner and UK Entrepreneur of the Year Leader said: “The importance of entrepreneurs in leading the economic recovery is clear, with their contribution to the growth, revenue and jobs vastly ahead of the economy in general. It reinforces research by NESTA showing that 6 per cent of outstanding growth companies create half of new, high value jobs.
“The impact on regional economies and confidence cannot be overstated, with entrepreneurs providing a major boost for local innovation, pride and job creation. Innovative and fast-growing businesses have helped the UK regions to become world players in many industries.”