Entrepreneurial activity on the up in last six months of 2012

Ben Southwood
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ENTREPRENEURS dialled up their activity in the second half of last year, figures showed this morning, with 14 per cent more shares changing hands than the same half of 2011.

A total of 24,000 growing companies across the UK and Ireland saw some ownership changes in the second half of 2012, according to the Barclays entrepreneurs index, compared to 13,000 in the first half, and 21,000 in the second half of 2011.

These firms also enjoyed a boost to average profits, from an average of £1.3m in the second six months of 2011 to £1.7m in the first half of 2012, to £2m in the second half of last year.

London saw the fastest growth of any region, the data showed, with 36 per cent more activity in the second half of 2012 than in the second half of 2011.

Outside of London, the industrial sector – which is enjoying a boost to its competitiveness after seeing sterling slide substantially – is enjoying the most intense spate of activity, Barclays said.

“The rise in profitability of these companies, the resurgence of traditional industries, and prosperity for younger sectors such as technology, is further proof that entrepreneurs are the engine room of the British economy,” said Barclays Wealth managing director Richard Phelps.