These Are the Best and Worst Cities to Start a Business in the UK

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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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