The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Best And Worst Places To Start A Business
RS Components have used the Cities Outlook report, along with government data to discover the top 10 cities with the highest startup and closure rates, along with the 10 cities with the lowest startup and closure rates to help budding entrepreneurs on their quest to find the best city to start a business.
You can view the full infographic here.
The report also found that:
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- London had the highest number of startups per 10,000 population (112.3), followed by Slough (82.9) and Milton Keynes (80.7).
- Three out of five businesses (60%) that started up in 2016 were located in cities.
- At the other end of the spectrum Dundee (33.7), Swansea (32.6) and Sunderland (32.2) were the lowest-ranked cities.
- Between 2015 and 2016, the number of business closures increased by 15.9 % nationally
- Aberdeen, Belfast and Doncaster experiencing the highest increases in closures (33.1, 42.9 and 59.7 %).
- Telford and Plymouth were the only two cities where the number of closures fell.
- London, Aberdeen and Northampton were the three cities with the highest number of closures (90.7, 68.3 and 64.3 per 10,000 population).
- Birmingham, Manchester and Peterborough had the highest churn rate (7.1, 6.8 and 6.6) – these cities saw the greatest difference between new businesses setting up and current businesses closing.
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