{"id":4780,"date":"2015-12-16T11:25:22","date_gmt":"2015-12-16T11:25:22","guid":{"rendered":"https:\/\/www.qualityformations.co.uk\/blog\/?p=4780"},"modified":"2024-04-13T16:38:04","modified_gmt":"2024-04-13T15:38:04","slug":"where-is-the-best-place-in-the-uk-to-start-a-business","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/where-is-the-best-place-in-the-uk-to-start-a-business\/","title":{"rendered":"Where is the best place in the UK to start a business?"},"content":{"rendered":"

Quality Company Formations, London-based company formation experts, have assessed all of the UK’s 69 cities in order to find the best places to start a business. Here we list the UK’s top (and bottom) 10 business cities and explain both how and why they’ve developed the country’s top up-and-coming startup scenes.<\/p>\n

Starting a business in the UK isn’t always easy. Access to finance and quality of life play a huge role in the successful launch of it. Meanwhile, costly overheads have the ability to make or break even the most promising of startups. Consequently, commercial success largely depends upon a company’s geographical location. That’s why we set out to discover which of the UK’s 69 cities have the best climate in which to launch new startups.<\/p>\n Our Fully Inclusive Package - the perfect way to form a company<\/span><\/a>\n \n

In compiling this list, our company formation experts marked each UK city on eight criteria: commercial property, energy, virtual office services<\/a>, public transport, broadband service, workforce demographics, access to finance and quality of life. Subcategories, such as broadband download speeds and the current availability of prime office space, were all scored out of ten in order to help us create an all-encompassing national league table<\/a>.<\/p>\n

By factoring in the living costs of bustling financial centres like London and Edinburgh, we ended up eliminating some of the UK’s most revered business hubs in search of the country’s next up-and-coming startup scene. We wanted to find the easiest place in the UK to start a company \u2013 and that’s exactly what we’ve done.<\/p>\n

Where should I start a business?<\/h3>\n

Derby might not make international headlines as a business powerhouse \u2013 but it is by far the most affordable, accessible and supportive city in the UK to launch a new startup.<\/p>\n

It may not be widely known, but Derby is actually the UK’s number one tech city \u2013 with 12% of its workforce employed in the hi-tech industry. As a point of reference, that\u2019s four times the national average, and double that of other hi-tech cities. A vast majority of those companies are transport-based.<\/p>\n

Derby is home to one of Europe\u2019s largest clusters of aerospace companies, with over 700 companies representing every aspect of the supply chain. The biggest of these firms, Rolls-Royce manufacturer OEM, employs 12,500 people. Derby also hosts the world\u2019s largest cluster of specialised rail companies, the bulk of Toyota\u2019s UK manufacturing operations and the only major manufacturer of rolling stock in the UK.<\/p>\n What is a registered office and why do I need one?<\/span><\/a>\n \n

Despite Derby\u2019s local economy being guided by some of the globe\u2019s most well-established companies, the tech city also maintains an impressive support base for new startups that cannot be rivaled. A grassroots enterprise hub, extensive Creative Industries Network, and the UK\u2019s biggest rail forum provide all-encompassing mentoring programs to foster fresh business ideas \u2013 and construction is nearing completion on a brand-new, 250-acre entrepreneurial park that will be able to create 8,000 jobs within a new, tax-friendly enterprise zone.<\/p>\n

Above all else, Derby\u2019s startup potential stands out in terms of the city\u2019s affordable cost of living, cheap virtual office rates, and sky-high wages.<\/p>\n

Some of our other top ten cities surprised us for different reasons.<\/p>\n

In terms of launching a new company, Coventry stole the number seven spot on our list due to the impressive entrepreneurial network it has in place to foster young talent. Both of its universities work closely with local business forums to secure real experience for its graduates, commercial property rates are low at just \u00a316 per square foot, and virtual office services are well below the UK average. Despite boasting a slightly higher cost of living, it\u2019s also worth pointing out that Coventry maintains a very low crime rate for a city its size.<\/p>\n

Meanwhile, for a city of almost 500,000, Liverpool offers a disproportionately low cost of living that should definitely be attracting would-be startup founders. Prime commercial real estate costs just \u00a318.50 per square foot, with rampant availability. Meanwhile, accommodation prices are among the UK\u2019s lowest \u2013 with the average two-bedroom property coming in at just \u00a3495 per month. Crime is relatively low, and childcare is below the UK average, too.<\/p>\n

For a more detailed look at the results of our research, check out the complete analysis of our top ten UK cities in which to start a business<\/a> and see where your city fared across the entire UK<\/a>.<\/p>\n

Where should I not start a business?<\/h3>\n

Unfortunately, not every city can be a winner in terms of commercial potential. Some of the UK’s cities are simply too small, whilst others lack adequate technological infrastructure to support a new generation of up-and-coming companies. Worse yet, some cities simply maintain a sky-high cost of living that bootstrapping entrepreneurs cannot afford. So, which UK cities should aspiring business leaders avoid?<\/p>\n

The bottom of the barrel<\/h3>\n

At the end of the day, one UK city has got to be named the country\u2019s worst for starting a company. Thanks to a complete lack of business infrastructure, we\u2019ve chosen Hereford as the absolute worst of the UK\u2019s 69 cities in which to start a business.<\/p>\n

In terms of commercial real estate, office space in Hereford is actually quite low at \u00a312.10 per square foot; however, there just isn\u2019t enough space to go around. Availability and selection are both poor. Moreover, virtual office prices are the UK\u2019s most expensive after London and Edinburgh \u2013 yet without the benefit of choice and availability. Broadband speeds in the city are also slow at 9Mbps, and startups have limited access to region-specific grants.<\/p>\n 5 things you need to form a limited company<\/span><\/a>\n \n

Hereford isn’t alone. A vast majority of the UK’s small cathedral cities did not rank well as part of this study; however, there were a few surprises, too.<\/p>\n

As the UK\u2019s oil capital, many would expect Aberdeen to be one of the UK’s top destinations for new startups. But due to the city\u2019s numerous industrial successes, the cost of starting and maintaining a company in Aberdeen has become simply untenable for many small business owners. That\u2019s why it earned the number four spot on our list of places not to start a company in the UK \u2013 and is one of the worst in Scotland.<\/p>\n

After London, Aberdeen offers the most expensive office space in the UK. It\u2019s also one the most expensive places to rent a two-bedroom home in Scotland, at an average \u00a3900 per month. Crime is relatively high in comparison to most Scottish cities, while the area\u2019s average broadband speeds are surprisingly among the UK\u2019s slowest.<\/p>\n

If you’re interested in a full analysis of the lowest scorers, check out the bottom 10 UK cities for starting a business<\/a> or\u00a0see how your city performed across all of the UK<\/a>.<\/p>\n"},"excerpt":{"rendered":"

Quality Formations has assessed all of the UK’s 69 cities in order to find the best places to start a new company. Here we list the UK’s top (and bottom) 10 business cities, and explain both how and why they’ve developed the country’s top up-and-coming startup scenes.<\/p>\n","protected":false},"author":10,"featured_media":6510,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[1229],"tags":[],"class_list":["post-4780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-startups","category-1229","description-off"],"acf":[],"yoast_head":"\nWhere is the best place in the UK to start a business?<\/title>\n<meta name=\"description\" content=\"Find out the top 10 cities to start a business in the UK. 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