New figures indicate private sector growth in York

7 Oct 2013 @ 3.42 pm
| News

 
Issued by City of York Council

City of York Council has welcomed new figures released this week from the Office of National Statistics, which show there are 125 more private sector businesses in York, since 2012.

The increase takes York from 8,010 to 8,135 businesses, from across all sectors.

Cllr Alexander, leader of City of York Council, said: “Ensuring economic development in the city is a key priority for the council and one we are constantly working to support through our jobs and growth agenda.

“These figures reflect the work we have undertaken with partners to facilitate an environment in York in which businesses can viably start-up or relocate.

“Growth such as this breeds confidence in the city both within the current business community and in attracting prospective businesses into York, not to mention creating new job opportunities for residents.”

The ONS figures show micro businesses (0-4 employees), and small to medium enterprises (249 or fewer employees) were particularly strong areas of growth in the city, with both proportionally at an all time high. York has also seen an increase in businesses turnovers across all recorded ONS sectors since 2012.

The highest increase in business growth has been in the £0-£49,000 turnover bracket, reaffirming the reported increase in micro and SME businesses. Growth in large companies has also remained stable.

The figures show that individual sectors such as property, information and communication and professional, scientific and technical show the biggest increase with 145 (47.5%), 115 (18.7%) and 70 (11.3%) new businesses being established respectively.

Sectors seeing some negative impacts include construction (-7.4%), accommodation and food services (-6.4%) and entertainment, recreation and leisure (-4.4%), which is in line with the regional trend in these sectors.

 


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