What Are The Best Cities In The UK For Startups?
If you’re from the UK I have a special treat for you today from Market Inspector. The UK is a great choice for startup companies including small internet-based businesses. The population is booming in places and the amount of resources available to startups has never been greater.
UK remains one of the top spots for startups, as new entrepreneurs continue to flock to major cities. London is well-known for it’s large enterprise-culture, accounting for the largest number of businesses in March 2016, with 18.7% of the UK total. The growth of businesses in London accounts for 30.5% of total growth in the UK. but our findings show a large increase of startups outside of London.
Map by Market Inspector
Of course, some cities are more suitable for startups than others. There are a multitude of factors involved when it comes to creating a business from the ground up. In order to get a better idea of what places are best for new business, Market Inspector has categorised them based on a point-based ranking system, with points being distributed per category based on the position. The first 3 get 10 point, the next 3 get 9 points, and so on. If 2 cities score the same amount of points, the one with the most winning categories gets the higher spot.
The list includes a number of factors which are relevant for any startup, which are the following.
- New business created in 2015
- Businesses that died in 2015
- Total number of active businesses in 2015
- Ratio of business births and deaths in 2015
- Total population
- 1 year survival percentage (for business started in 2010)
- 5 year survival percentage (for business started in 2010)
- Property prices
- Average internet speed
- Average weekly income
On this map you can find the best places for start-ups in the UK:
Video by Market Inspector