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Top 6 Places to do Business in the UK

Guest Post | Nov 29, 2021

Modern London city - Top 6 Places to do Business in the UK

Different cities of the world would offer numerous business opportunities depending on what is in demand in the city. The fact that a business venture is lucrative in a town doesn't mean it will be lucrative in another. However, some cities stand out when it comes to running a business.

The last few years have seen the United Kingdom produce more entrepreneurs than ever, which is good for the economy and the people. Still, there are certain things to consider before starting a business in the UK, and one of them includes the city where you choose to run your business.

One essential thing to consider when starting a business is your location. Therefore, we have made a list of top cities in the UK where your startup business will thrive.

1. London

We cannot talk about the UK without mentioning its charming capital city. Being one of the most visited cities in Britain, London strives in technology, media, and tourism. Recognized as the financial capital of Europe, the city accounts for over 30% of the UK's GDP and is considered one of the world's leading business hubs.

According to a report by statista.com, London has a 57% business survival rate. Although London might be challenging for startups due to the market's competitiveness, you can hope that business will pick up eventually, considering the large population.

2. Leeds

With a five-year survival rate of 42.9% and a weekly income of £429.00, Leeds city makes our list. According to bark.com, the average business launch cost in Leeds is about £15,550, making it top the list of best places to start a business in the UK.

It would interest you to know that Leeds has the second-highest business survival rate in England; the city also has the second-largest business population. Compared to London, Leeds has a rather considerable market in terms of competition. Therefore, the North England city is swiftly becoming a business hub. With adequate business planning, any startup will thrive in Leeds city.

3. Birmingham

The large population of Birmingham City is instrumental to the success of business in the city. Birmingham is home to a large variety of industries which includes digital technology, finance, and insurance. Another notable thing about this city is that it hosts many significant cultural and sporting events yearly, which makes a lot of people drawn to the town. Bullring, one of the most extensive shopping centres in the UK, is located in Birmingham; the city also houses five universities.

Although the business survival rate is low (38.3%), it has a large population which would help keep your business going for a very long time. However, if you would love to start a business in Birmingham but don't know how to go about it, it is best to consult Birmingham immigration Lawyer.

4. Manchester

Manchester is recognized as the home of textile production in The UK. Ever since the city became the world's first industrialized city, it has never stopped manufacturing. Manchester is home to two of the biggest football clubs globally, Manchester United and Manchester City, making many people worldwide visit the city whenever there is significant competition.

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With over 395,525 people living in the city, Manchester is the third most populated city in England, with a business survival rate of 37.52. The city is also a hotspot for other industries, including tech and social publishing.

5. Edinburgh

According to the Guardian, in 2016, Edinburgh was rated as the best city for startups in the UK. The city is one of the best locations for growing enterprises. This perhaps is one of the main reasons why people with a Schengen visa are also planning to get the UK visa and move there.

It is an affordable city to move to, as long as you have the requirements. Edinburgh allows you to maintain a budget while also maximizing the opportunities the city provides. The city has one of the cheapest office spaces as well as fast and reliable internet speed. With a 42.9% five-year business survival rate, you can rest assured that your business will thrive in Edinburgh.

6. Bristol

Bristol is home to one of the largest seaports in the UK, which means that it has high international access due to the importation and exportation of materials.

Any business that has to do with the sea will thrive in Bristol as long as it is appropriately planned. The city also strives in tech, as it is recognized for being conversant with emerging technologies. Bristol is not just a city for business alone; it is a green and friendly city where you can consider bringing up a family.

Final Thoughts

The places listed in the post are some of the best cities in the UK where your business will thrive. However, this doesn’t mean there are no other places in the world where your business can thrive. You can also try the Schengen area. But to move there, consult an expert for your Schengen visa application UK.

 


NCFA Jan 2018 resize - Top 6 Places to do Business in the UK The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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