Fintech platform Qardus has found that small to medium enterprises (SMEs) in Bromsgrove, West Midlands, are facing the most challenges this year, according to a study by the Office of National Statistics (ONS). The research, which used data from the ONS, ranked local authorities based on factors such as active enterprise change, births of new enterprises, deaths of new enterprises, high growth enterprises per 1,000, and survival rates of SMEs over three to five years. Bromsgrove recorded the largest drop in registered SMEs between 2021 and 2023, with a 5.81% survival rate in the last five years. In the mid-range, Rossendale in Lancashire ranked fifth for SMEs struggling the most in the UK, with a 6.3% decrease in registered businesses between 2021 and 2023. Ceredigion, on the other hand, was found to be the most thriving local authority for SMEs. Qardus founder said that the study indicates that some local authorities are better equipped to host new SMEs than others.
Fintech platform Qardus has found that small to medium enterprises (SMEs) in Bromsgrove, West Midlands, are facing the most challenges this year, according to a study by the Office of National Statistics (ONS). The research, which used data from the ONS, ranked local authorities based on factors such as active enterprise change, births of new enterprises, deaths of new enterprises, high growth enterprises per 1,000, and survival rates of SMEs over three to five years. Bromsgrove recorded the largest drop in registered SMEs between 2021 and 2023, with a 5.81% survival rate in the last five years. In the mid-range, Rossendale in Lancashire ranked fifth for SMEs struggling the most in the UK, with a 6.3% decrease in registered businesses between 2021 and 2023. Ceredigion, on the other hand, was found to be the most thriving local authority for SMEs. Qardus founder said that the study indicates that some local authorities are better equipped to host new SMEs than others.