With the end of the decade drawing, Informi is this year looking back at the 2010s in business, charting the highs and lows of the past ten years.
Having focused on 2010 yesterday, this year we look back at 2011. With cinemas packing in audiences keen on seeing the final Harry Potter instalment and Manchester celebrating in the football world, with United lifting the Premier League and City crowned FA Cup champions, what did 2011 hold for businesses?
2011 in focus: A royal wedding amidst social unrest
2011’s major story was the marriage of Prince William to Kate Middleton on 29 April. The wedding, held in Westminster Abbey, was watched by billions worldwide and a public holiday was held in the UK to celebrate. Although £32 million was spent on the event, not least due to the deployment of 5,000 police offers, the wedding brought an estimated £107 million in ‘commercial benefit’ to the London economy. Merchandisers – both official and otherwise – cashed in.
The year wasn’t all good news for the UK economy, however. Economic costs of a series of riots affecting large cities rose to more than £300 million, while in a sign of things to come, HMV closed 10% of its stores with 900 jobs lost. Public sector workers weren’t all happy, with many going on strike ahead of planned rises to the state pension age. The rises took place anyway.
Where was it best to start a business in 2011?
Aberdeen continued its strong start to the decade, again coming top of the various factors we focused on that demonstrate thriving business conditions. Northampton and Reading replaced Ipswich and Brighton in the top three.
Along with overall employment rate, the number of business start-ups was key to Aberdeen’s success. While London easily led the way with nearly 73 businesses set up per 10,000 population, Aberdeen’s 54.61 was good enough for third place in this factor, behind Reading.
The Top 10 Best Places To Start A Business In The UK 2011
(change from last year’s position in brackets)
As we continue our countdown, tomorrow we’ll be looking back to 2012 and a glorious year in sport.