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Rural businesses are making profits but could do even better
New analysis of rural firms in the English regions shows rural businesses to be significantly more likely to be profitable than businesses in urban areas. Although rural and urban firms share many plans for growth, rural firms were stronger exporters of goods and services, more likely to have introduced new or improved goods in their businesses, and more able to secure external funds for capital investments. Nevertheless, there is also evidence of untapped rural potential and obstacles to success, with variations in these and other outcomes across England and its regions. Professor Jeremy Phillipson said: “To achieve spatially-balanced and inclusive economic growth, we encourage central and local government agencies, Local Enterprise Partnerships and business support organisations to examine this evidence on rural businesses’ strengths, aspirations, and weaknesses in devising their economic strategies and plans”. The report Small Rural Firms in English Regions is available online.
Last modified: Wed, 26 Apr 2017 15:26:38 BST