Airdrie & Coatbridge Advertiser
North Lanarkshire economy growing
JUDITH TONNER
North Lanarkshire’s business sector has grown in the past year with 165 more firms now based in the local authority area than 12 months ago.
The county now has 8285 businesses employing 98,720 people, respective increases of two and one per cent since 2018 – with a combined turnover of £15.05 billion, which is up £279 million or two per cent since last year.
Council officials say the figures, published in the annual Businesses in Scotland report by the Scottish Government, shows that “North Lanarkshire’s economy is showing clear signs of growth”.
Financial and insurance services was North Lanarkshire’s fastestgrowing sector in the past year, with the number of firms increasing by eight per cent and employment in that area up by 16 per cent.
Arts, recreation and entertainment was the nextbiggest growth area at seven per cent, followed by transport and storage, up five per cent; while the biggest growth in turnover was an additional £ 3.8bn in wholesale, retail and repairs, where employee numbers have also increased by 13 per cent.
Small businesses, employing up to 49 people, make up 91 per cent of the new North Lanarkshire businesses and created 110 new posts; while five new medium-sized businesses opened their doors and there were 10 new large firms with more than 250 employees, which generated 910 new jobs.
Council enterprise manager Yvonne Weir said: “The figures are encouraging, and demonstrate the strength and resilience that exists in North Lanarkshire’s economy.
“We are seeing sustained growth in our largest sectors – wholesale, retail and repairs, construction and manufacturing – which are among our biggest contributors to business numbers, turnover and employment; and we also see that we cannot underestimate the value and importance of our small business sector who make up 90 per cent of our business base.
“It reinforces the message that we must continue to support start-up and growth activity via our Business Gateway Lanarkshire services to create a resilient, productive and adaptive business base.
“The figures are also fitting evidence of the council’s shared ambition to make North Lanarkshire the place to live, learn, work, invest and visit.
“It’s vital that we continue to promote North Lanarkshire as an area for businesses to locate, invest and grow, maximising our land supply, plentiful industrial premises and excellent transport networks.”
Also welcoming the latest business news was Alex Neil MSP, who said: “Airdrie & Shotts is booming and Scotland is fast becoming one of the best places in the world to do business.
“This SNP government is supporting small businesses in Scotland to flourish, offering the most generous package of business rates relief anywhere in the UK.”