Entrepreneurial Activity in Merseyside

The Global Entrepreneurship Monitor (GEM) 2004 annual report on entrepreneurial activity has revealed significant statistics on Merseyside’s progress and current position. An analysis of the report shows that Liverpool as a sub-region of Merseyside is performing exceptionally but highlights problems facing Merseyside as a whole.

Liverpool’s Activity

• Total Entrepreneurial Activity (TEA) is at 6.6%, National 6.3% and North West 4.6%.
  
• Start-up rates of 3.9%, 1% below the national average.
  
• Levels of existing business owners in Liverpool of 10.5%, National average – 11.7%.

Merseyside’s Activity: (Sefton, Knowsley, St Helens, Wirral, Liverpool)

• At least three out of five of the sub-regions consistently fall below the national and regional TEA levels.
  
• TEA on Merseyside is just 3.6% compared to Liverpool’s 6.6%;
  
• Start up rates in Merseyside 2.3% compared to Liverpool’s 3.9%;
  
• Business ownership in Merseyside is 7.2% compared to Liverpool’s 11.7%.

Interesting Information

• Liverpool may be outperforming North West and even National averages but Merseyside as a whole is greatly falling short.
  
• High percentages of people in Merseyside believe that they can see good opportunities and believe they have the skill base to run a successful business. However, few attempt to do this and levels of start-ups on Merseyside are nearly half that of the National average.
  
• People with no formal qualifications are more likely to become entrepreneurs than any other qualifications groups in Merseyside.
  
• There are low levels of young people becoming entrepreneurs in Merseyside; 33-44 year olds are highest % age group in Liverpool compared to the national average of 25-34.

Sources of information:

GEM United Kingdom 2004 regional report on Merseyside.