Experian's latest results show ongoing growth for British businesses
The number of businesses reporting strong year-on-year growth has increased significantly, freshbusinessthinking.com reports.
In its latest BusinessIQ analysis report, Experian found that following a short contraction, the number of businesses experiencing year-on-year growth has rocketed.
Before 2008, around a third of UK businesses were experiencing sales growth of ten per cent or more. Between 2008 and 2010, this figure had fallen to nearer a quarter - although by the end of 2011 fortuned had reversed once more and the total now stands at 32 per cent.
Experian reached the totals by analysing available accounts from around 150,000 UK businesses that reported their turnover between 2008 and 2011. It also brought into the equation where each business was located, meaning a geographical map could also be drawn up.
It found that Hull was the best location for business growth, with 2011 showing 36 per cent of businesses achieving growth of 10 per cent of more.
These results show a market where business expansion isn't just an aim for firms but an achievable outcome. Where retailers are concerned, this growth means more money coming through the tills, which may then require greater cash management as the potential risks become higher.
The results also provide an interesting parry to claims that the UK is entering a triple dip recession. Whilst analysts such as Sarah Hewin of Standard Chartered have claimed that a triple-dip would be "unavoidable" for UK businesses, Experian found it to be quite the opposite. Instead, its results echo those of the OECD (the Organisation for Economic Co-operation and Development), which claimed that Britain has put the recession in the past and will now press on with positive results.
Speaking to businesszone.co.uk of the results, managing director for Experian's UK Business Information Services, Max Firth, explained: "Many of the towns and cities highlighted as showing the biggest improvements in sales growth were widely believed to be struggling during the period analysed.
"Places like Stoke-on-Trent, Hull, Wolverhampton and Birmingham are incubating some strong businesses that have demonstrated the ability to grow significantly. The businesses themselves now need to harness opportunities through careful monitoring of the business climate, so that they can actively seek growth opportunities and minimise risk."