Sheffield is the best UK city for start-ups

15 January 2019


Sheffield is the best UK city for start-upsA new study has identified the 15 most promising places to start a business in the UK.

The research, conducted by Paymentsense, focused on the economic climate in the UK's most populated cities in order to identify the best places to start a business. Key factors that were assessed included: start-up survival rates, the cost of accommodation, the number of employed adults in each city and the average weekly pay for full-time workers.

Sheffield tops the list, thanks to its relatively low living costs as well as an impressive five-year start-up survival rate of 45%. Other cities with high start-up survival rates include: Bristol (45%), Edinburgh (43%), Nottingham (43%), Coventry (42%), Leeds (42%), Cardiff (42%) and Sunderland (42%).

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In contrast, the new business survival rate in London is 39%. Some of the UK's bigger cities have even lower start-up survival rates, including Glasgow (36%), Manchester (37%) and Liverpool (38%).

Overall, the findings show that the best cities for starting a business are:

  1. Sheffield
  2. Nottingham
  3. Sunderland
  4. Leicester
  5. Bristol
  6. Stoke-on-Trent
  7. Cardiff
  8. Leeds
  9. Coventry
  10. Edinburgh
  11. Liverpool
  12. Birmingham
  13. Manchester
  14. Glasgow
  15. London

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