Entrepreneurial activity is on the rise in the UK and Ireland, according to a study by Barclays.
The second Barclays Entrepreneurs’ Index shows a 14% increase in the number of companies with shares changing hands. According to the statistics. a total of 24,000 growing companies across the UK and Ireland had shareholder changes in the second half of 2012, compared to 13,000 in the first half of 2012 and 21,000 in the second half of 2011.
The industrial sector saw the most entrepreneurial activity, with a 30% increase in the number of companies with shares changing hands in this sector. Yorkshire, Wales and the North West saw the most significant revival in manufacturing, with the number of companies with shares changing hands in this sector rising by 47% in Yorkshire, 46% in Wales and 45% in the North West.
Richard Phelps, Managing Director, Barclays Wealth and Investment Management, said: “It is encouraging to see that active companies have shown not only resilience in the face of instability, but even growth in certain sectors. The rise in profitability of these companies, the resurgence of traditional industries, and prosperity for younger sectors such as technology, as well as reinvestment made by entrepreneurs post-exit, is further proof that entrepreneurs are the engine room of the British economy.”