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Encouraging entrepreneurs: in Preston

The smallest and most deprived wards have a lower proportion of micro-businesses and a higher proportion of small, medium and large businesses. Self-employment without full-time employees averages half in Preston’s deprived wards than elsewhere. When compared with the national, regional and city-based self-employment rates, these wards have real difficulties in promoting and sustaining entrepreneurship within their communities. The national average for self-employment is 8.32%, regionally it is 7.10%, and in Preston as a whole it is 6.12%. In St Georges however it falls to 3.55%, Deepdale 3.96%, Town Centre 4.65%.

Business start-ups in Preston have gone against the national and regional trends. Between 1997 and 2004, the number of business start-ups per annum fell by 20%, compared with a fall regionally of 0.001%, and nationally even less. Nationally long-term business stocks have increased by 9% and regionally by 7%, while in Preston business formation has slowed resulting in a net increase of 3% on 1997 levels. The North-West has had lower start up rates than the national average in recent years, especially since 2003. Taken as a measure of entrepreneurialism, the North-West is less enterprising than the country as a whole.

However, local Business Link data reveals interesting statistics for the number of business enquiries for the year ended March 2005. Enquiries coming from some of the deprived wards is higher than both the Lancashire and Regional averages, reflecting the recent investment of SRB and ERDF funds, which are beginning to impact and bring benefit.

Recycling Lives in Preston is working in partnership with the University of Central Lancashire (UCLAN) to develop small business incubator units and a hub for support services, to stimulate the growth of new business, in particular by attracting graduates to stay in Preston to realize their entrepreneurial ambitions. Space for between 15 and 20 new business starter units is available on the third floor of our building in Kent Street.

Young (and old) entrepreneurs will be invited to take tenancies at commercial rates to develop their business ideas, but in so doing they will also be invited to commit to the Recycling Lives ethos, by offering training and work-experience opportunities to the homeless residents, thus assisting them in their rehabilitation process. The tenants will pay a commercial rent for their space and services, but they will not be requited to pay for the services of the residents, whose remuneration and benefits are provided by the charity. Thus a win-win situation. The residents gain skills and experience to take forward into the next phases of their lives: and the tenants have the opportunity to grow their business without the headache of wage-overheads.