New research : Which city in the UK is best to start a new business?

Leicester has topped the rankings for best city in the UK to start a new business if you’re a millennial, according to new research from online business print providers, instantprint.

The new ranking analysed the cost of living in the 20 biggest UK cities, along with average age, number of start-ups per 1,000 people, office prices, train reliability, recycling rates, superfast broadband availability, and the average price of a cup of coffee to produce the top ten.

All factors were selected based on research into what is important to the millennial generation and what challenges they may face in starting a business.

The data revealed that there are great opportunities for millennial start-up companies all around the country, with only two of the top ten cities located in the south of England.

The top ten cities are:

1. Leicester
2. Derby
3. Belfast
4. Nottingham
5. Portsmouth
6. Southampton
7. Hull
8. Coventry
9. Cardiff
10. Edinburgh

OTHER FINDINGS

The rankings also revealed that:

• London ranked well outside the top ten, coming in at 17 out of 20
• Edinburgh has the highest concentration of start-ups in the top ten with over 13 start-ups per 1,000 people in 2016
• Portsmouth and Hull came joint first for cheapest office prices at an average of £16 per square foot per month

James Kinsella, CEO and Co-Founder of instantprint commented on the findings:

“As a millennial start-up company ourselves, we understand how daunting deciding where to set up your business can be – especially if you haven’t had much time in the workplace to build up capital resources and a great network of potential contacts.

“At instantprint, we cater for small start-up businesses and wanted to help our current and future client base by providing this research, highlighting great opportunities for their companies

It’s great to see that some of the less well-known cities in the UK are offering great opportunities for small businesses. Leicester is a great place to set up your business and this is reflected in the activity in the city, which includes an annual business festival that gets 10,000 attendees”.