Start up business loans demand may be rural-focussed, study suggests

Fri, 30 Mar 2007

Entrepreneurs looking for start up business loans may be more likely to be based in rural England, according to the latest business loans study.

Research from financial services provider Barclays Local Business has discovered that the average start-up rate for new companies across the UK is 12 per cent.

However, the locale that saw the largest spike in business launches was not London or Manchester but Oswestry, a town in Shrophshire with 23,000 people.

Oswestry saw a 150 per cent rise in business start-ups, followed by Malvern Hills in Worcestershire (100 per cent) and the Derbyshire Dales (75 per cent).

"Among the fastest growing start-up locations, more than half are mainly rural or are towns that serve a rural economy," explained John Davis, marketing director for Barclays Local Business.

""It seems unlikely this is a pure accident."

Mr Davis speculated that the trend may reflect the fact that countryside locations are increasingly attracting "down-shifters from urban areas".

Bosses of newly-formed companies may wish to consider start up business loans to pay for overheads such as paying the lease on a site, acquiring stock and funding employee salaries.

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