Blackpool business survival rate is up, says survey

The rate of Blackpool businesses failing has fallen
The rate of Blackpool businesses failing has fallen

Blackpool is flying the flag for improved business survival rates in England, showing a 23.63 per cent decrease in closures of businesses between 2010 and 2015.

The figures come from a UK business survival index created by London insolvency practitioners Hudson Weir.

It states that Blackpool has a high unemployment rate compared to the national average, but is the most improved for business survival rates. But it came second only to Belfast in the table of survivability and ahead of the likes of Bournemouth and London.

Hasib Howlader, Director at Hudson Weir said “It’s very encouraging to see that despite worries, many areas are seeing a significant improvement in business survival rates, particularly in the North of England.

“However, it is clear that there are areas in the UK where businesses continue to struggle due to varying factors such as the weak pound, increased price of imports and increasing overheads.”

The report said Blackpool’s businesses were reliant on the skills and competencies of residents, providing an important resource for labour, investment and business.