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21/01/2005
UK entrepreneurs help reduce north-south gap
Recent research showing that the UK is Europe's most entrepreneurial major economy was welcomed today by Secretary of State for Trade and Industry and Minister for Women by Patricia Hewitt.
The Global Entrepreneurship Monitor (GEM) 2004, which was part funded by the DTI, placed the UK ahead of rivals Germany, France, Italy when it comes to entrepreneurial activity. It also showed the gap between male and female entrepreneurs was closing in the UK. Big increases in female start-up activity have occurred in many of the regions outside of London, particularly the East Midlands, East of England, the North-East, North-West, Scotland and Northern Ireland.
The report revealed that while the UK has an entrepreneurial rate higher than Germany, Japan, Italy and France, it remains lower than the rate in the US and Canada.
The North-South enterprise divide is narrowing with the report noting that the gap between the most and least entrepreneurial regions is lower than ever. Three regions, the North-East, East Midlands and Yorkshire and Humberside making significant progress over the last year.
According to the report, female students are more likely to be engaged in entrepreneurial activity than male students and women in rural areas tend to be more entrepreneurial than women in urban and suburban areas.
The research also showed that ethnic minorities make a large and important contribution to the success of the UK economy, with entrepreneurial activity amongst most ethnic minority groups is substantially higher than for white people.
Commenting on the report, the Secretary of State for Trade and Industry and Minister for Women, Patricia Hewitt, said: "Today's report shows that the UK is one of the most entrepreneurial countries in the world and is a better place to start and grow a business than ever before. This is down to the hard work of Britain's successful entrepreneurs.
"The number of small and medium sized businesses in the UK has grown by 300,000 in the past seven years and employment in small businesses has grown by 600,000. And we will do more to help entrepreneurs succeed."
The Minister said that the Business Link service had helped over 600,000 businesses a year.
(SP)
The Global Entrepreneurship Monitor (GEM) 2004, which was part funded by the DTI, placed the UK ahead of rivals Germany, France, Italy when it comes to entrepreneurial activity. It also showed the gap between male and female entrepreneurs was closing in the UK. Big increases in female start-up activity have occurred in many of the regions outside of London, particularly the East Midlands, East of England, the North-East, North-West, Scotland and Northern Ireland.
The report revealed that while the UK has an entrepreneurial rate higher than Germany, Japan, Italy and France, it remains lower than the rate in the US and Canada.
The North-South enterprise divide is narrowing with the report noting that the gap between the most and least entrepreneurial regions is lower than ever. Three regions, the North-East, East Midlands and Yorkshire and Humberside making significant progress over the last year.
According to the report, female students are more likely to be engaged in entrepreneurial activity than male students and women in rural areas tend to be more entrepreneurial than women in urban and suburban areas.
The research also showed that ethnic minorities make a large and important contribution to the success of the UK economy, with entrepreneurial activity amongst most ethnic minority groups is substantially higher than for white people.
Commenting on the report, the Secretary of State for Trade and Industry and Minister for Women, Patricia Hewitt, said: "Today's report shows that the UK is one of the most entrepreneurial countries in the world and is a better place to start and grow a business than ever before. This is down to the hard work of Britain's successful entrepreneurs.
"The number of small and medium sized businesses in the UK has grown by 300,000 in the past seven years and employment in small businesses has grown by 600,000. And we will do more to help entrepreneurs succeed."
The Minister said that the Business Link service had helped over 600,000 businesses a year.
(SP)
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