The five best UK cities for start-up SME’s
| 14th August 2019
Starting a business in 2019 is perhaps easier than it was years ago. The internet allows us almost anyone to start a business from their bedrooms and social media is the perfect tool for plying products and services for an incredibly low amount. But many SMEs still require a base of operations and it makes sense that this base would be in one of the UK’s most thriving cities.
Forget London, as the overheads will be far too costly. But there are plenty of other incredible UK cities to choose from, five of which we’ve put under the spotlight below.
Manchester
One of the first industrialised cities in the world, Manchester is the jewel of the North-West and has always had a lot to offer the business community. Home to not only two of the world’s best football teams but the city where the atom was split and the ‘Madchester’ scene of the 80s and 90s was born, it’s a city with a brave culture of innovation and success rates are high at around 37.5%.
Sheffield
A city with a rich industrial heritage that also boasts a famously vibrant music scene, Sheffield currently ranks as one of the best UK cities for startups due to its relatively central northern location and a 44.9% 5-year start-up survival rate. Average rental costs are also low and whilst the steel industry might have died down since the heyday of the 1980s it still boasts a thriving economy.
Nottingham
Nottingham was once famed as the home of bicycle manufacturing in the UK but today it’s more famous as a hive of financial and cultural activity. The start-up success rate is second only to Sheffield at 43.4% and with a population of over 700,000, there are plenty of potential customers and employees to draw from.
Sunderland
The trading port of the North-East boasts a 41.9% start-up success rate and is close enough to the neighbouring city of Newcastle to mean that businesses based there can essentially draw clients from both cities without having to pay the larger rental price expected on the ‘Geordie Shore’. Sunderland’s largest employer, Nissan, also makes it the perfect location for businesses in the automotive industry.
Bristol
A hive of creativity and electronic invention, Bristol is, outside of London, one of the UK’s most exciting and culturally rich destinations. Rental and set up costs might be expensive but the start-up success rate of 44.8% makes it an incredibly attractive proposition for creative enterprises. It’s also close enough to the historic city of Bath that, like Sunderland, it can comfortably draw in clients and employees from its famous neighbour.
Regardless of where you set up shop, you’re going to require capital and a helping hand. Consider applying for an enterprise investment scheme to help you off your feet or search for an investor with a proven track record in your industry. Because the best businesses were not built alone.