Stirling’s Hard-Pressed Communities Leading Start-Up Growth, According to Latest BankSearch Data

Stirling has ranked 3rd in Scotland for start-up growth, with a significant number of new businesses emerging from its hard-pressed communities. According to the latest data from BankSearch, 21.2% of Stirling’s new businesses were established in areas facing economic hardship. Despite national declines in start-up rates, Stirling remains a stronghold for entrepreneurial resilience.

Playing a crucial role in this success, STEP delivers comprehensive start-up support in Stirling through its role as the local provider of Business Gateway, on behalf of Stirling Council. Fully funded by the Scottish Government, these services are free of charge, providing aspiring entrepreneurs with expert guidance, resources, and workshops to confidently launch and grow their ventures. The team of expert business advisers help entrepreneurs overcome financial and operational challenges through tailored one-on-one advice, workshops, and networking opportunities. With expertise in business planning, marketing strategies, funding applications, and operational management, STEP equips businesses with the essential tools to build sustainable success.

According to the latest figures, a total of 33 new businesses took root in Stirling in December 2024, 7 more than the previous month and 15 more than in December 2023, representing a resilient supported entrepreneurial landscape in what is historically a quiet time for business start-ups.
Across Scotland, new business formation has slowed with a 10.6% decline in start-ups compared to the previous year. However, Stirling has remained one of the strongest-performing areas, with local initiatives, accessible funding opportunities, and business mentoring contributing to its sustained start-up activity.
Stirling West was the most entrepreneurial area, recording the highest rate of new business creation. Closely followed by Forth and Endrick and Stirling demonstrating a thriving start-up culture in these wards.

Dunblane and Bridge of Allan outperformed the citywide average reinforcing their position as key hubs for new business development.

Trossachs and Teith, Stirling North, and Bannockburn recorded the lowest start-up rates, with Bannockburn seeing the least entrepreneurial activity overall.

Rural Residents led the way, accounting for 33.3% of all new businesses. This sector experienced a 37.5% month-on-month increase and an impressive 83.3% year-on-year rise, reflecting growing confidence in business creation outside urban centres and the valuable impact of STEP’s dedicated rural adviser in supporting entrepreneurs in these communities.

Start-up activity surged in Hard-Pressed Living areas, which accounted for 21.2% of new businesses. These financially challenged communities experienced a remarkable 600% increase in start-ups year-on-year, demonstrating resilience and growing entrepreneurial ambition despite economic difficulties.

“The fact that so many start-ups are coming from Stirling’s hard-pressed communities is a testament to the resilience and ambition of local entrepreneurs,” said Mike Barclay, Director of Business Support at STEP. “Our mission at STEP is to ensure that everyone, regardless of background or financial position, has access to expert business support that helps turn ideas into thriving businesses.”

In addition to direct business mentoring, STEP collaborates closely with Stirling Council, financial institutions, and industry leaders to provide access to funding opportunities and financial support tailored for new businesses. The organisation’s commitment to removing barriers for underrepresented entrepreneurs has helped many individuals from disadvantaged backgrounds achieve financial independence and contribute to the local economy.

Vice Convener of Stirling Council’s Finance, Economy and Corporate Support Committee, Cllr Jen Preston said: “Many people face significant barriers to employment and self-employment, whether financial, social, or otherwise. Our close partnership with STEP enables us to refer those who may wish to start their own business, while also working together to connect local businesses with job seekers looking to enter the workforce.

By ensuring that everyone has access to the right support, we will help more people create sustainable livelihoods and contribute to the local economy.
Overall, these are really encouraging figures and show the positive impacts of the work taking place by key partners to improve economic opportunities across Stirling through a wide range of supports and initiatives.

“These figures highlight the entrepreneurial resilience within Stirling’s hard-pressed communities,” said Simon Anderson, BankSearch. “Despite economic challenges, many individuals are stepping forward to create new businesses, and having access to free support services like those provided by STEP is critical to sustaining this momentum.”

STEP also provides training sessions and networking events that help business owners connect with industry experts and potential investors, further strengthening the local business community.

Whether it’s help with business planning, securing funding, or navigating early-stage challenges, STEP and Business Gateway offer a wealth of resources to support long-term success. The organisation also provides training sessions and networking events that help business owners connect with industry experts and potential investors, further strengthening the local business community.

Entrepreneurs looking to take advantage of this free support can contact STEP on step@stepscotland.co.uk for more information.