Economic Growth in Stockport has revealed that the town has the fastest growing economy in the North West of England, according to new research from Irwin Mitchell and the Centre for Economics and Business Research (Cebr). as reported on the Business Desk
The UK Powerhouse study, as reported on the Business Desk provides an estimate of GVA growth and job creation within 45 of the UK’s largest cities 12 months ahead of the Government’s official figures.
The latest report revealed that Stockport was the top location in the North West in terms of GVA growth during the last quarter of 2017.
In contrast, Manchester and Greater Manchester recorded GVA growth rates of 1.2%, while Liverpool only registered growth of 0.7%.
The study also considered the future prospects for all of the major conurbations in the UK, with Stockport expected to once again register growth of 1.3% .
Highlighting initiatives that are supporting Stockport’s economic growth, Cebr point to the launch in 2017 of ‘Ready to Grow’ – a £40,000 investment scheme with the aim of encouraging entrepreneurship and providing support for new businesses.
As a whole, Greater Manchester already has one of the highest number of business start-ups per 10,000 people out of all UK cities, however, this dedicated funding further spurs growth in business creation and survival.
Roy Beckett, partner at Irwin Mitchell in Manchester, said:
There is positive news here for Stockport but generally, our report highlights that the faster rates of economic growth continue to be concentrated in locations in the South and around the ‘Cambridge-Milton Keynes-Oxford Arc’.
All businesses need to operate in an economic environment that allows them to flourish and we firmly believe the Government can do more in the North West.”
Six miles from the centre of Stockport is Manchester International Airport which connects the North West with a global market. Logistics hubs surround the airport area and further enhances the area and a place of choice for businesses who need access to such connectivity moving people or product around the globe.
Read the full report powerhouse-city-growth-spring-2018