The Inter Departmental Business Register (IDBR) contains information on all businesses in the United Kingdom which are VAT registered or operating a PAYE scheme. NI has lowest business birth rate of all UK regions.
A birth is identified as a business that was present in year t, but did not exist in year t-1 or t-2. Births are identified by making comparison of annual active population files and identifying those present in the latest file but not the two previous ones. The birth rate is expressed as a percentage of total active enterprises in year t
The Global Entrepreneurship Monitor research consortium measures the entrepreneurial activity of individuals in the general adult population. NI’s Total Entrepreneurial Activity rate decreased in 2015, and is now the lowest rate in the UK.
A high-growth firm is defined as a firm with an average employment or turnover growth rate exceeding 20% per annum over a three-year period and with ten or more in employment at the start of the observation period. The number of high growth firms increased for the second year running but remains well below its peak level.
BVCA captures the aggregate investments, divestments, and fundraising information of the BVCA full member firms. The report details investment information that is broken down across industry sectors, financing and investment stages, and UK regions. The BBA provides details on business banking in Northern Ireland. The number of NI firms undertaking investment has fallen over the past two years but the amount invested has increased.
The UK Growth Dashboard 2015 looks at a range of indicators to shed new light on the health of small businesses and entrepreneurship across the whole of the UK. NI has the highest proportion of surviving start-ups that reach £1m turnvoer within 3 years of the UK nations
The UK Growth Dashboard 2015 looks at a range of indicators to shed new light on the health of small businesses and entrepreneurship across the whole of the UK. NI had a lower proportion of existing firms in 2011 with turnover of between £1-2million able to scale up to £3 million by 2014 than other UK nations.