Monday, October 24, 2016

News: Survey highlights business survival

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Yorkshire and the Humber has the longest running small businesses in Britain according to a poll conducted by Rotherham-based online printer instantprint.

The region's small business owners have on average owned their companies for 112.87 months, a period that dwarfs the lifespan of the rest of the nation’s SMEs.

At over nine years, Yorkshire's SMEs average period of life is more than double the current existence of small businesses in the South West (44.3 months), London (48.72 months), the North East (50.69 months) and East Anglia (55.88 months). The only part of Britain close to their longevity was Northern Ireland, whose average ownership was 93.07 months.

The area's largest cities companies were polled, with owners in Leeds averaging 124.57 months, those in York listed at 98.95 months of service, and Sheffield’s owners running their businesses for 98.38 months.

Instantprint co-founder, James Kinsella, who founded the company with Adam Carnell in 2009, said: "As a business owner in Yorkshire, this is terrific news. The region really is a breeding ground for small businesses to start up and then establish themselves. Our company has grown tremendously here, and this shows that other entrepreneurs can follow our lead and can be here for the long term."

instantprint is one of the top 100 companies in the UK with the fastest-growing sales. In 2012 the company merged with Templeborough-based point-of-sale printing specialist Bluetree and a move to bigger at Manvers last year have seen staff numbers hit the 200 mark.

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Rotherham Council uses the survival rate of new businesses as a priority measure to economic growth. 63.1% of new businesses had a survival rate of three years in 2014/15.

The survey also highlighted that one factor that may have assisted the establishment of these SMEs is that their owners have the second longest average working week in the nation. Yorkshire and the Humber entrepreneurs work a standard working day longer over the course of the week than the average 9-5, clocking up 45.56 hours. Of those polled, this was only surpassed by Northern Irish SME owners, who are in the office 49.08 hours a week.

By putting in the long hours, Yorkshire SME owners have had to make sacrifices, with over half of those polled suggesting they've missed valuable time with their family, 40.48% missed time away on holiday, and 47.62% missed out on down-time. This relinquishment of their precious free time, has seen 50% of the region's owners admitting that they are more stressed, but even still, a poll-high 83.33% advised that they would not want to go back to working for someone else.

Kairen Skelley, head of business start-up at Spark, Leeds University's service that offers students guidance, mentorship, and assistance with funding and office space, said: "The area is definitely thriving, we see a growth of 10-15% of start-ups per year, so when we started the target was 20, there were 65 this year.

"The student business people that I work with, live and breathe Yorkshire and that can only be a great thing for the region going forward. They want to stay in Yorkshire, which means the money stays here. Perhaps one of the most important aspects of our programme is that many of these businesses are founded with the hope of long-term success, and this is reflected in the fact that 83% of our start-ups are still going three years after setting up."

instantprint website

Images: instantprint


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