Monday 21 May 2012
UK entrepreneurs have managed to increase sales by a fifth over the last year, helping small businesses to make a bigger contribution to gross domestic product.
Figures published by Ernst & Young suggest the sector has seen volumes rise by 20 per cent year-on-year, as leading entrepreneurs achieved 23 per cent employment growth.
"The entrepreneurs have innovated and created jobs in sectors from sushi restaurants, to construction, and clean-technology, in parts of the country suffering stubbornly low employment rates," the firm stated.
"In Scotland, entrepreneurs doubled their staff, while in London and the South it rose by 43 per cent; the North by 24 per cent; and the Midlands by eight per cent."
But despite the role in job creation, businesspeople still felt they were being held back on this front - with 22 per cent saying a key challenge is not being able to recruit skilled employees.
Stuart Watson, UK Entrepreneur Of The Year leader, said dynamic businesses, led by entrepreneurs with the energy and insight to drive their firms forward, have demonstrated that they are "a major factor in rejuvenating the UK economy".
“However there is a sense that they are achieving these results despite serious issues around talents and skills shortages which need to be tackled," he stated.
Posted by Jenny Arthur