Manchester may have been the birth place of Alan Turing, Emmeline Pankhurst, Danny Boyle, Joy Division, The Smiths and the Happy Mondays but it is also the best place to launch a start-up, according to a new analysis which reveals the key considerations to set that entrepreneurial spirit free.
Despite the challenges of Brexit, a global pandemic and the ongoing cost of living crisis, data from Companies House shows a record 202,130 UK start-ups in the first 12 weeks of 2023, a year-on-year rise of 6.5%.
But while the classic check-list of what to consider when starting a business – company name, company structure, business plan, finances, competitors, marketing and support – might not have changed to decades, location, location, location can make the difference between survival and collapse.
A new study by independent digital agency Dark Horse looks at key criteria collected by its data experts, including the quality of life, the rate of new businesses opened in competition, Internet quality, local education, and transport services.
To determine the results, analysts obtained insight from ONS, Numbeo, the Fair Internet Report and the Department for Transport with data tied to UK cities. Each criterion was given a weighted score. The lower the overall score, the higher the city ranks in the list.
Manchester is closely followed by London – no surprise there at it is traditionally considered the business powerhouse of the UK – but they are followed by Sheffield, Birmingham, Glasgow, Brighton and Hove, Cardiff, Liverpool, Luton and Leeds.
Results from the research also show that the North is a serious contender for new business. In fact, four cities in the top 10 are in the North, with three in the South. Birmingham is the best place to set up in the Midlands, Glasgow is the top city in Scotland, while Cardiff is the best city to set up a business in Wales.
Dark Horse data expert James Maxfield said: “In the past, to be successful you had to head South. But that’s just not the case anymore. Investment in infrastructure, talent acquisition, culture and the digital age has made it possible to set up a business pretty much anywhere in the UK.
“This data clearly shows that businesses have the absolute potential to boom across the UK. As a northern company ourselves, it’s great to see a wide variety of cities rank in the top 10. There is no doubt that with effective investment and opportunities, businesses can grow, and cities can thrive as a result.”
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