UK Business Growth Rankings: Fastest and Slowest Growing Councils Revealed
In-depth business growth analysis of every council in the UK reveals the fastest and slowest growing areas in the country.
Data produced by Beauhurst uses several key metrics to analyse business growth in every local authority in the UK between May 2023 and 2024. These metrics are used to give each council a ‘Business Growth Score’, from which Beauhurst has been able to rank every council in the UK by their business growth.
By undertaking this analysis, Beauhurst aims to highlight the regions that are excelling in fostering business development, thereby providing valuable insights for investors, policymakers, and other stakeholders interested in regional economic growth.
The analysis shows that Runnymede has the fastest growing business economy in the country, whilst Haringey and Barking & Dagenham have the slowest business growth.
How is it calculated?
The Business Growth Score is calculated using a Beauhurst-designed formula. Several metrics are combined to generate the final Business Growth Score, using data between 1st May 2023 and 1st May 2024. The metrics used are:
Number of New Companies: The number of new companies established.
Number of Scaleups: The number of companies that have achieved significant growth.
Number of Fundraising Events: The number of successful fundraising events completed by companies in the area.
Number of Grantees: The number of companies that received grants.
Number of Employees: The total number of employees in the area.
Number of Active Companies: The number of active companies as of 1st May 2024.
To accurately reflect business growth, the scoring formula takes into account the overall business activities in relation to the number of active companies.
"From some angles, the UK’s economy is in rude health. Firstly and mostly simply, there are a record number of active companies: looking at companies with at least one full-time equivalent employee, there are 2.4 million—an all-time record. Over 240,000 new companies incorporated in the first quarter of 2024—another record. But this growth is not distributed evenly in the UK – some regions are prospering, some are falling behind. Our ranking shows the winners as well as the losers – the incoming government should take note."
Results
Business Growth Score Top 10:
About Beauhurst
Beauhurst is the UK’s leading provider of data on private companies. Trusted by entrepreneurs, investors, and policymakers alike, Beauhurst offers unparalleled insights into the UK’s entrepreneurial and high-growth landscape, empowering decision-makers to navigate and capitalise on opportunities in the dynamic world of ambitious and innovative businesses.
