New business creation in Scotland falls to under a fifth of UK average
Oil effectFalkirk and Fife were among the large towns suffering from a shortage of entrepreneurship, with net new business creation falling to -33.9 and -49.1 respectively. However, the performance of Aberdeen was possibly most significant. With almost 18 more businesses closing than opening per 10, 000 people, the North Sea oil hub was ranked as the worst performing major UK city. UHY pointed towards a downturn in the oil sector for Aberdeen’s low business creation, with the city feeling the effects of a major US shale gas boom worse than anywhere else. At over $100 a barrel in mid-2014, a twelve-year of under $30 in early 2016 saw oil companies undertake significant cost-cutting measures. A recent report from Scotland’s national skills agency‘suggested as many as 5, 500 jobs could be lost from Aberdeen’s gas and oil industry over the next decade. Warsop added: Oil has historically been a driving force in Scotland, but the government now needs to be more proactive in business and job creation.
Net number of new businesses created per 10, 000 population
|362out of 362||Clackmannanshire||-537.5|
|361||Na h-Eileanan Siar||-133.8|
This London borough has been crowned the best place for UK entrepreneurs Despite its popularity with startups, the number of entrepreneurs choosing to set up shop in Islington’s Silicon Roundabout has been shown to have fallen. __________________________________________________________________________________