According to recent figures released by a UK company credit checking specialist, Warrington businesses are the most trusted in the UK.
The stats, revealed by Creditsafe as part of its annual UK Business Performance Report report for 2019, found that Warrington businesses had the highest average credit score (79) when compared to the rest of the country. This figure, which is based on a scale of 1 to 100, is the most commonly used metric by businesses and lenders alike to check a company’s chance of becoming insolvent before offering their services to them. The score is based on a number of factors including key financials, how prompt a business is in paying suppliers, adverse information, plus lots more.
Warrington itself has seen major business growth in recent years, particularly in the science and tech sectors. Its Sci-Tech Daresbury campus in particular has been crucial to the growth of these sectors in the region and is home to over a hundred high-growth companies, including IT-specialist Atos, and is recognised as one of the fastest growing science parks in Europe.
On a regional basis, businesses in Greater London were given the highest average credit score of 75.7, followed by Scotland (75.4) and the East of England (75.4). However, when focusing on towns and cities specifically, Warrington business placed first across the nation for credit scores, ahead of Scotland’s Aberdeen (78) and Kirkwall (78).
Top 10 average credit score by town – stats gathered by Creditsafe*
Kingston upon Thames (77)
South West London (77)
Commenting on the figures, Chris Robertson, CEO UK and Ireland at Creditsafe, said:
“While there is plenty of talk around London being the business centre of the United Kingdom, it’s clear that other cities have plenty to offer to the national economy. With Brexit negotiations still ongoing, businesses want to ensure their investments are sound and Warrington businesses are leading the way in trustworthiness in a time of economic uncertainty.
“The regions’ exceptionally positive credit scores must be celebrated, as they demonstrate that investment in the UK should encompass more than just the capital.”
Commenting on the town’s success, Entrepreneur Gilles Baudet, adds:
“Warrington is a very good place to be right now when it comes to business. Being situated so close to two major cities developing at a continuously impressive rate in Manchester and Liverpool, Warrington has transitioned into a real talent pool of entrepreneurs and business minds. Much like Slough for instance, Warrington has much cheaper running costs than what’s on offer in the nearby major cities which keeps costs down and combats what can sometimes be an over-reliance on outside investment.”
The full results of Creditsafe’s UK Business Performance Report can be found here: https://www.creditsafe.com/gb/en/more/hub/newsroom/uk-business-performance-report.html