BARROW has had the fourth highest loss in the number of small and medium-sized enterprises (SMEs) in England since 2019, according to new figures. 

There was a net loss of 340 SME businesses in 2023 compared to 2019 according to research from Iwoca.

There were also 1,025 fewer jobs in the town than in 2019, the figures stated.

A spokesperson from Westmorland and Furness council said the authority was 'committed' to making the area 'a great place to work.' 

SMEs are defined by the UK Government as any organisation with fewer than 250 employees and a turnover of less than €50 million. 

Copeland ranked third with a net loss of 520 SME businesses. Eastleigh and East Hertfordshire bottomed out the list with a net decrease of 7,225 and 11,710 jobs respectively. 

Neighbouring South Lakeland also lost 120 businesses from 2019, ranking 248th out of 342 in the list, which placed areas in England in order of growth with the bottom being the biggest net loss and the top being the biggest net gain. Wolverhampton saw the biggest growth in the country with a net increase of 1,500 SMEs. 

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A spokesperson for Westmorland and Furness Council said: "The council is committed to making Westmorland and Furness a great place to work by promoting opportunities for jobs, learning, skills and enterprise.

“We want to create a sustainable, inclusive and diverse economy and we want to grow the local work force and support the creation of high quality jobs and provide support to encourage business creation.

"The council is directly involved in the delivery of multiple projects and programmes in Barrow that will help to support SMEs and wider employment opportunities, either directly or indirectly through improved infrastructure and an improved public realm, housing and leisure offer.

"The council is part of the Team Barrow partnership with Government and BAE Systems. Government has pledged more than £200 million over the next 10 years for interventions in areas such as the economy, masterplanning and place; education, employment and skills; and transport."

The council also said that it working alongside partners to support the delivery of the Brilliant Barrow Town Deal projects. The town deal secured £25 million from the Government's Towns Fund. 

It said that it is also delivering the Barrow Town Centre Regeneration Project - a 'once-in-a-generation' £17.5 million to reinvigorate the Market Hall, The Forum and the public realm around it with the aim of encouraging people into the centre.