Which Cities Are the Best for Small Businesses?
A mobile payments company called SumUp has just released 2019’s Small Business Index, which ranks cities in the UK and around Europe based on their support for small businesses. With three British cities in the top 20, it is clear the UK is a good place for enterprise.
To create its rankings, the Small Business Index analysed how many small businesses were in a city and their nature. It also studied density, as well as the availability and affordability of property. Their last criterion was the kinds of external support and investment offered to small businesses.
At seventeenth, it is unsurprising that the UK’s capital is high on the list. According to the Small Business Index, it is the third best place in the UK for small businesses, and it is clear why. London is bigger than any other British city, meaning it has a bigger possible customer base, more properties, excellent transport links and many organisations that can offer advice and investment. It has potentially the widest field of opportunity.
If you want to take advantage of London’s benefits without having to cope with the increased costs associated with the capital, you could look at some of the towns in an easy commutable distance. Basingstoke is less than an hour away (barring major traffic jams) and is one of the fastest growing towns in the UK in its own right. If you’re looking at offices to let Basingstoke has a great deal to offer.
Heading further north, a small business in Scotland should look to Glasgow, number 11 on the Small Business Index. It may be considered second to Edinburgh in Scotland, but being slightly further down the list means you face less competition when launching a new venture. In conducting a search for offices to let Basingstoke and other locations around London can be overly competitive, whereas in Glasgow, small business entrepreneurs can find a place of their own.
Coming in at number ten, and therefore the only UK city in the top ten, Birmingham is currently the UK’s top city for small businesses. Between the high levels of investment and the low rents, running a small business in Birmingham is more affordable than in other cities. It is no wonder it won an Enterprising Britain award in 2016.