BRITISH BUSINESS BANK NAMES LINCOLN TOP LOCAL AUTHORITY FOR START UPS IN THE EAST MIDLANDS

Added by Love Business East Midlands | 9 November 2022

New data from Start Up Loans provides a league table of the UK’s top local authorities for start ups since 2012 when the scheme began.

News coincides with launch of Business Finance Week 2022

Start Up Loans, part of the British Business Bank, today names the top local authorities* for start ups across the UK, based on the number of Start Up loans successfully drawn down since 2012 by borrowers in their areas in comparison to other local authorities. 

Lincoln was found to be the top local authority for start ups in the East Midlands, with 177 Start Up loans successfully drawn down since 2012, representing 2.6 in every thousand local adults. Other top five local authorities in the East Midlands for start ups include East Lindsey in Lincolnshire and Derby, Chesterfield and High Peak in Derbyshire.

This coincides with the beginning of Business Finance Week 2022 (7-11 November 2022**), hosted by the British Business Bank and business support partners from across the UK.

In the East Midlands, the top local authorities for start ups weighted against population size are:

Louise McCoy, Commercial Director, Start Up Loans, said:

“It’s wonderful to see Lincoln recognised in the East Midlands for its contribution to entrepreneurship. I’m always inspired by the stories of small business owners who have used the Start Up Loans programme to take the leap into business ownership. The East Midlands has an ever growing pool of diverse small businesses and I’m pleased to see that, with the help of Start Up Loans, they’re able to access the finance they need to grow and contribute to the local economy.”

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