High Level Summary of Statistics Trend Last update: Tuesday, May 06, 2008
Business Registrations
New business formation is one of the key drivers of economic growth. A high business birth rate drives up levels of innovation, competitiveness and productivity, as firms are replaced by more competitive enterprises in the important process of business churn. VAT registrations are the most reliable official indicator of business start-ups but exclude the very smallest businesses.
In 2006, Scotland had 28 registrations per 10,000 of the adult population in comparison to the UK figure of 37. Excluding London and the South East would result in the UK figure falling to 32 per 10,000 resident adults.
The Scottish Government has established a National Indicator to increase the business start-up rate.
Source: Department for Business Enterprise & Regulatory Reform
Scotland's position in terms of these figures has changed little in the past ten years, varying between 27 and 31 registrations per 10,000 resident adults.
Source: Department for Business Enterprise & Regulatory Reform
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