IS Bury's business boom turning to gloom?

Yes, according to new figures for start-ups issued by Barclays, which puts the town near the bottom of an England and Wales league table.

No, according to Bury Council's economic development team and a Bolton and Bury Chamber boss, who says these new figures contrast sharply with previous encouraging long-term economic data.

Evidence which points to a slow-down in Bury's business outlook came via research from Barclays, which revealed that Bury has started 200 businesses in the first three months of 2003, equating to 20 business starts per 10,000 people aged 16-59.

That puts Bury ninth-bottom for England and Wales, alongside towns like Sunderland and Stoke on Trent as among the worst areas in the country in the enterprise league table.

Neighbouring Manchester is in the top 20, with 120 business starts and 48 business starts per 10,000 people of working age.

The research revealed that refugees from the "rat race" are choosing to be their own boss, with almost half of new companies started by professionals and middle managers.

Mike Rogers, managing director for small business at Barclays, says: "What we may be seeing is a sponge effect, where people are spending time soaking up all a company has to offer in terms of training, experience, contacts, know-how and industry savvy before turning it to their own use."

Despite Bury's poor showing in the national league, business outlook is still bright, says Andrew Dickson, president of Bolton and Bury Chamber. He explained: "Barclays' snapshot of three months contrasts with economic data over a longer period of time which shows that Bury is a good place for entrepreneurs. Longer-term statistics reveal that Bury has a higher percentage of self-employed people than the Greater Manchester average.

"Data also shows the strong growth of Bury's start-ups with figures for VAT registrations higher than the regional and national average."

Councillor Tim Chamberlain, council executive member for regeneration and housing, added: "We have a good record of start-ups across the borough so we are actually starting from a higher base than most."