Business News Round Up (22/04/25)
North West is powerhouse for start-ups – but SME survival rates lag in other regions
The North West continues to prove a hub for innovation and enterprise, with new data finding that 33,000 new businesses were launched in the region throughout 2023. But concerns remain over the high rate of company failures within five years of foundation. Despite economic challenges, figures from the Office of National Statistics shows that the region continues to lead on business creation across the North and Midlands, cementing the region’s status as a dynamic engine of growth outside London. Greater Manchester remains a central driver of the region’s business growth, contributing more than 14,500 new enterprises in 2023, while Manchester city alone saw the birth of 3,630 new business, reflecting the area’s resilience and strong support ecosystem for start-ups, creatives, and tech-driven ventures. However, while the North West’s business birth rate remains nationally competitive at 11.6% – second only to London at 12.6% – long term performance is more difficult.
Scottish retailers see sales uplift in March thanks to Mother’s Day
Retailers in Scotland experienced a sales surge in March, largely thanks to Mother’s Day shopping, according to the Scottish Retail Consortium (SRC). The latest SRC data revealed a 0.3% increase in total sales between March 1 and April 5, compared to the same period in 2024, when sales had risen by 2.8%. That was below the three-month average increase of 0.5% and above the 12-month average decrease of 0.8%. Adjusted for inflation, this accounts for a 0.7% year-on-year increase. This year Easter and Holy Week fell in April rather than March. Despite that, the SRC’s deputy head Ewan MacDonald-Russell said the sector enjoyed a “surprisingly strong performance” in March. Certain product categories, such as beauty products and gardening supplies, saw particular success in Scotland during March. Like-for-like sales rose by 1.5% compared to March 2024, outpacing the three-month average increase of 0.9% and the 12-month average decrease of 0.4%.
https://www.insider.co.uk/news/scottish-retailers-see-sales-uplift-35072195
Company closures surge amid fears over health of UK economy
Businesses across Britain are being shut down at a rate not seen since the financial crash, City AM has found, in a major warning sign for the health of the UK economy. More than 1,100 companies have faced winding-up orders in the first fifteen weeks of 2025, according to an analysis of published insolvency notices compiled by City AM, an increase of nearly a quarter compared to last year and the fastest rate of corporate closure since 2010. Nearly 2,200 businesses have also faced winding-up petitions, a legal manoeuvre by creditors to claw back unpaid debts, an increase of more than a fifth since 2024 and the highest rate since 2012. The figures highlight the precarious position many small and medium-sized companies find themselves in as they struggle to pay off debts under the burdens of tax hikes, higher wage bills and sluggish growth.
Scottish Renewables outlines future vision for community benefits
In response to a public consultation on community benefits from renewable energy developments, Scottish Renewables has advocated for flexibility in future arrangements to ensure local decision-making and the economic viability of individual technologies are protected. The Scottish Government is seeking to update existing guidance and best practice for community benefits from clean energy technologies. Since 1990, renewable energy developers in Scotland have invested more than £200 million of community benefit, with over £30m awarded in the past year alone – largely from onshore wind. Innovative local funds are supporting a variety of good causes from energy efficiency to skills development. Funding from onshore wind developments is expected to reach nearly £90m per year by 2033, while more than £100m is expected to be generated in community benefit from new transmission infrastructure across the North of Scotland.