South Derbyshire has been shown as one of the top ten places in the Country where small and medium enterprises (SMEs) are most likely to succeed, according to a recent report.
Research was conducted by business finance provider Qardus (and reported by Professional Beauty) who analysed data from the Office for National Statistics. It is reported that the analysis was based on six different factors, including: The Active Enterprise Change between 2021-2023, the change in the count of births of new enterprises 2020-2022, the change in the count of deaths of new enterprises 2020-2022, the change of high growth enterprises per 1,000, and the survival rate of SMEs across three to five years. Each metric had a weighting for how much it contributes to the final score, the score was then scaled to a maximum of 100 using the weightings provided.
Local authorities were then ranked based on their overall score out of 100, with the lowest scores indicating the best conditions for opening a business with South Derbyshire coming sixth with a score of 29.95.
Heather Wheeler says: “I am honestly not surprised that South Derbyshire is a region highly rated for SMEs to succeed in – although I am pleased to see this recognised.
“South Derbyshire is a great place both to live and to work, not only because it has great transport links to larger economic hubs across the midlands, but also because, in my view, the natural pragmatic and can-do attitude of most people who live there. I am really proud to see this acknowledged worldwide.”