Business is booming at York Science Park

The majority of businesses based at York Science Park have experienced increases in turnover, staff acquisitions and overall business growth, according to the latest United Kingdom Science Park Association (UKSPA) Survey.

The 2015 results revealed that approximately 75% of businesses reported a growth in turnover in the previous year, an increase of 3% on the same figure from the year before.

61% were planning an increase, and 36% were set to increase staffing levels in the near future.

The UKSPA Survey is part of a programme of reports compiled by York Science Park to provide an overview of activity on the Park and help it plan for the future.

The results are used both as a management tool for the YSPL team helping them to better understand their clients and anticipate their future needs but also to feed through to UKSPA data for the whole of the UK.

Further results revealed that a high percentage of businesses had introduced a new product or service in the past year, 27% are involved in the design of new products and 28% are involved in some form of research and development.

Evidence of international activity was also highlighted in the survey, with 21% exporting between 5% and 60% of their products and/or services and 13% having another office overseas.

The number of companies working in Digital Media increased by 28%, and those working in Environmental Research increased by a further 71%.

Tracey Smith, chief executive officer of York Science Park, said: “Being part of the national Science Park body, the annual UKSPA survey is critically important - sharing knowledge and collaborating on improvements to services, technology and access to ensure innovation-led, high growth and knowledge-rich businesses flourish UK wide.

“As a new member of the International Association of Science Parks the research we carry out with our residents will now also be used to contribute to larger international reviews and studies, ultimately helping shape international growth studies and future policies across Europe.

“These results emanate success and growth and the clear evidence of expansion, both current and planned, supporting the claim that business is buoyant in the innovation sector.

“Our specialist facilities, which include the Innovation, Bio and IT Centres, The Catalyst, Springboard start up space and Enterprise House grow on space, create the perfect environment for IT, Bio, Digital Media, Film and TV Production and knowledge based businesses to grow, helping to ensure that the U.K. remains ahead of global competition and delivers the maximum contribution.”