The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Best Cities For Startups In UK
New research, released today by BusinessComparison.com, reveals fresh insight into the state of startup survivals in the UK. The research, backed by recently published ONS figures, shows that just 4 in 10 startups in the UK (42.4%) survive their first 5 years in business.
The research further looks at the cities with the best, and worst, startup survival rates in the UK…
UK Cities With The Best 5 Year Business Survival Rates
The city with the best survival is Bristol, with 44.4% of new startups surviving to the five-year mark, backed by an economy built on industries such as creative media, electronics and aerospace.
The only other cities to show a higher survival rate than the national average were Brighton and Hove (44.1%) and Leeds (42.9%).
Rank
Town / City
New Startups In 2013
5 Year Survivals
5 Year Survival Rate
1
Bristol
2,570
1,140
44.36%
2
Brighton and Hove
1,960
865
44.13%
3
Leeds
3,895
1,670
42.88%
4
Sheffield
2,145
915
42.66%
5
Cardiff
1,665
705
42.34%
6
Bournemouth
910
385
42.31%
7
Edinburgh
2,730
1,150
42.12%
8
Bolton
1,380
580
42.03%
9
Bradford
2,250
945
42.00%
10
Aberdeen
1,445
605
41.87%
UK Cities With The Worst 5 Year Business Survival Rates
At the other end of the scale, Plymouth is the city that has the lowest startup survival rate in the UK, with less than one in three (30.7%) new ventures lasting five years or more.
