Cambridge is second best place to start a small business in the UK
PUBLISHED: 09:33 01 December 2016 | UPDATED: 09:45 01 December 2016
Cambridge scored well on low number of SME closures and strong digital connectivity.
Best cities to start a business in the UK 2016 (change from 2015 in brackets)
1. Brighton (0)
2. Cambridge (0)
3. Leicester (0)
4. Bristol (+2)
5. Northampton (+6)
6. Reading (-1)
7. Aldershot (0)
8. London (+1)
9. Aberdeen (+5)
10. Leeds (+16)
11. Burnley (+22)
12. Southampton (+12)
13. Coventry (-1)
14. Bournemouth (-1)
15. Derby (-5)
16. Portsmouth (0)
17. Manchester (+6)
18. York (+12)
19. Basildon (New entry)
20. Blackburn (-5)
A study, caried out by Informi, of 65 UK cities relating to a number of factors that can be important for smaller company survival, has named Cambridge as the second best place to start a business in th UK.
First place Brighton and third place Leicester are non-movers from last years’ study, as is Cambridge.
Factors considers in the rankings include the density of small and medium sized businesses (SMEs), digital connectivity and house prices.
Brighton came top of the list for the second successive year, due predominantly to its superfast broadband penetration rate, low pollution levels and high number of business start-ups.
London made it to number eight on the list, up one place from last year, ranking first for the number of business start-ups and density of SMEs. However, the capital’s high property prices, large number of SME closures and relatively moderate broadband speeds put it below cities including Aldershot, Reading and Northampton.
Darren Nicholls, Product Manager for Informi said: “We are on course to see a record number of start-ups in the UK during 2016, demonstrating that the entrepreneurial spirit is as strong as it has ever been. New businesses can be found across every region and industry, bringing new jobs and prosperity and growth to their local economies.
“It is encouraging to see that London is not the only environment where small businesses have the opportunity to thrive. However, for every success story there are still far too many that struggle to get off the ground. SME owners should ensure they take every opportunity to seek out information and support that will help them get the fundamental ingredients of business in place to give their firm every chance of prospering.”