CMC Markets, a UK-based financial services company, has unveiled, in its recent study, the top cities of the UK with the highest success rate of new business in the last 5 years.
CMC Markets conducted this study via a business intelligence software, Endole, and examined the number of businesses launched in the UK’s 25 biggest cities between December 2017 and December 2022.
According to the study, Reading, Stoke-on-Trent, Plymouth, and Cardiff, have one of the most flourishing businesses and entrepreneurs, with business closure rates of only 0.13%, 0.21%, 0.27%, and 0.32%, respectively.
In terms of the highest rate of business closure, Southampton stands at the top with a rate of 3.04% followed by Sheffield at 3%, and Birmingham at 2.04%. Interestingly, London is also listed among the least successful cities, with a business closure rate of 1.38%.
Here are the top 10 cities in the UK with the most successful new businesses:
| City | No. of Businesses Opened | No. of Businesses Closed | Percentage of Business Closures |
| Reading | 6,877 | 9 | 0.13% |
| Stoke-on-Trent | 6,228 | 13 | 0.21% |
| Plymouth | 4,744 | 13 | 0.27% |
| Cardiff | 18,232 | 58 | 0.32% |
| Edinburgh | 17,372 | 71 | 0.41% |
| Bradford | 2,655 | 11 | 0.45% |
| Bristol | 17,043 | 94 | 0.55% |
| Northampton | 8,993 | 49 | 0.55% |
| Derby | 8,109 | 45 | 0.56% |
| Belfast | 7,819 | 62 | 0.79% |
Here are the bottom 10 cities in the UK with the least successful new businesses:
| City | No. of Businesses Opened | No. of Businesses Closed | Percentage of Business Closures |
| Southampton | 5,337 | 162 | 3.04% |
| Sheffield | 13,241 | 397 | 3.00% |
| Birmingham | 16,330 | 333 | 2.04% |
| Leeds | 15,377 | 276 | 1.80% |
| Manchester | 35,525 | 622 | 1.75% |
| London | 23,192 | 320 | 1.38% |
| Coventry | 12,900 | 176 | 1.36% |
| Newcastle upon Tyne | 7,988 | 96 | 1.20% |
| Kingston upon Hull | 6,036 | 62 | 1.03% |
| Nottingham | 9,863 | 95 | 0.96% |
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