Lancashire borough outranking every UK city for young entrepreneurs

A ranking of the UK’s 360 local authorities placed Blackburn with Darwen at the top of the list, with 16.8 per cent of founders aged under 25 – nearly double the national figure.

Bradford came second, with 14.1 per cent of founders aged under 25, followed by Leicester at 13.4 per cent.

The average age of founders in both Blackburn with Darwen and Bedford is 36, well below the national average of 39. Leicester also has one of the six lowest median founder ages in the UK, at 35.

Andrew Manning, managing director at Virtual HQ, said: “Setting up a limited company has never been quicker or cheaper, and these figures show how many people are now doing it in their early twenties rather than waiting until mid-career.”

He also warned younger entrepreneurs to remember that incorporation places the founder’s details on a public register that anyone can access.

“It is one of the easiest things to get right at the start and one of the most awkward to unpick later,” he added.

The research also compared different sectors across the UK and found that the youngest founders incorporate companies in the wholesale and retail trade sector.

The sector has an average founder age of 35, and 14.2 per cent of its directors are aged under 25.

The study also identified UK local authorities with disproportionately high numbers of older entrepreneurs.

The Outer Hebrides topped the list, with 25 of the 144 directors appointed to new companies over the year aged over 60.

At 17.4 per cent, this was the highest proportion of directors aged over 60 in any UK local authority, and almost three times the national figure of 5.9 per cent.

West Devon, Anglesey and Herefordshire also top the list with higher-than-average proportions of company founders aged over 60.