Entrepreneurs are leading the way for job growth in Yorkshire and the Humber

Entrepreneurs provide a boost to job creation across Yorkshire and the Humber, according to new figures released by the NatWest Regional Economic Tracker.

The NatWest Regional Economic Tracker monitors employment levels in 11 regions across the UK showing where the fastest job growth has occurred on a quarterly basis.

The tracker reports that Yorkshire saw it’s jobs count rise by 2.6% in the last 12 months, and saw a 6.3% increase in self-employment over the same period.

In Sheffield the proportion of jobs that are done by the self employed rose to 13.1% while in Leeds this figure is 9.9%. Harrogate has the highest levels of self employment at 17.2%.

Across the UK, self employment has risen by 21.1% since 2008, with self-employment now accounting for 14.7% of all jobs.

The number of self-employed women has also increased by over 40% over the past eight years, accounting for 54% of the rise in self-employment.

NatWest Senior Economist Sebastian Burnside commented: “Entrepreneurs are making a fantastically important contribution to the UK’s labour market.

“There are now 4.6 million self-employed people in the UK, an increase of 800,000 since 2008 with women accounting for 433,000 of these new jobs.

“Over the course of the recovery, we have seen the pace of self-employment growth vary. At the beginning in 2009 and 2010, self-employment was growing rapidly even as firms were shedding jobs.

“However, with employers once again recruiting workers and unemployment levels now below 5%, we are starting to see the growth of employee jobs outstrip self-employment’s expansion.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →