Birmingham: best city in the UK to start a business
The role that UK cities play in both the national and global economy is changing. While London has long been the nation’s de facto centre for business activity, recent change has brought significant growth and development to other parts of the country.
Know Your Money, one of the UK’s leading independent financial comparison websites, recently conducted research to find out which UK cities are best to start a business outside of the capital.
The research revealed that:
• Birmingham is the best city in the UK to start a business, outside of London
• Birmingham has the largest active business population in the UK, outside of London
• Birmingham is the most interested in business banking and business loan products
To find out which UK cities are best for new businesses, Know Your Money considered the following factors for each city:
• Business landscape
• Access to talent
• Quality of life
• Growth and development
• Funding and support
• Future development
Birmingham is considered by many to be the cultural, financial, and commercial centre of the Midlands. Once at the heart of the Industrial Revolution, it has become a modern-day hub for commercial activity, both nationally and internationally.
Outside of London, Birmingham has the largest active business population in the country and a large talent base of adults with NVQ Level 4 qualifications or above. More affordable office and living space also make Birmingham an attractive alternative to London and a top contender for the best city in the UK to start a business.
Know Your Money’s Finance Director, Nic Redfern commented:
“Small Businesses are key to the future of the UK economy and this study shows a lot has been done to develop an economic environment across the country in which they can thrive. There are challenges ahead for some interesting cities that did not make it into the Top 10, clearly there is still more work to do to help the spread of opportunity reach across the country.”