LANCASHIRE boasts some of the best entrepreneurial businesses in the UK, a survey claims.

Sales at the area's leading private firms climbed 13 per cent in the last year, although operating profits were up just three per cent.

KPMG surveyed owner-managed businesses and found average salaries of workers in Lancashire and Cumbria were £12,688 - £18.50 a week below the North West average and £26 a week below the national figure.

Profit margins of local firms were joint highest in the region and the time taken to get bills paid averaged 36 days compared with 42 nationally.

The North West Ltd survey looked at 500 of the region's largest privately-owned companies with turnovers of between £2 million and £60 million.

"Although the rise in operating profits was low, the survey clearly shows owner-managed businesses in this area are operating very efficiently," said Jonathan Hurst, of KPMG in Lancashire.

"Entrepreneurial businesses are the backbone of the region. North West Ltd is an undoubted business success story which has grown into a £10.7 billion annual turnover company with a workforce of almost 110,000."

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