North Lanarkshire has seen a year of positive business performance, setting a strong foundation for 2025. Businesses in the area experienced a significant £2.21 billion increase in turnover during the year up to March 31, with the number of registered firms growing by 60 to reach 8385. Additionally, the employment rate in the area rose to 97,960.
According to the Scottish Government’s annual Businesses In Scotland report, the total turnover of local businesses in 2024 hit £17.283 billion, marking a 14.7% increase from the previous year. The growth in the number of businesses was mainly observed in small companies (up to 49 employees) and five medium-sized businesses (50 to 249 employees).
Construction continues to be the dominant industry sector in North Lanarkshire, with 1560 businesses employing 13,660 people and a combined turnover of £2.7 billion. In the private sector, wholesale, retail, and repairs emerged as the top employer with 20,450 employees and a turnover of £4.8 billion, representing 28% of North Lanarkshire’s total business turnover.
Councillor Alex McVey, convener of the enterprise and fair work committee, expressed optimism about North Lanarkshire’s economic position, attributing it to the region’s high-quality premises, accessible transport links, skilled workforce, and comprehensive business support package. Over the past decade, the number of businesses in the area has increased by 13.8%, surpassing the Scottish average of 4.5%.
Looking ahead to 2025, North Lanarkshire Council aims to enhance support for key industry sectors, facilitate more business and industry sites, and attract additional inward investment. The council’s proactive approach is expected to further bolster the region’s economic growth and business opportunities.
In summary, North Lanarkshire’s positive business performance in 2024 sets a promising trajectory for the year ahead, with increased turnover, business registrations, and employment rates reflecting a thriving local economy. The council’s commitment to fostering a conducive business environment and driving economic prosperity bodes well for continued growth and investment in the region.