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15 best UK cities for start-ups

  • February 23, 2018
 

15 best UK cities for start-ups

Good news if you’re looking to start a business, we’ve got a list of the 15 best cities for it. New research from Paymentsense ranks the 15 cities using a number of criteria including chance of start-up survival, population and the average cost of living there.

Aaron O’Hearn, Co-Founder and CEO of the Startup Institute, explains that start-up Founders “will never know enough”. He explains that “you will always be forced to make a decision without fully understanding what is coming. As a founder, that is just something you have to get comfortable with”

See the full list below:

15. Liverpool

  • 5-year start-up survival rate: 38.6%
  • Average gross weekly pay: £509.20
  • Self-employed rate: 6.8%
  • Population: 484,600
  • Average utility bill (1 bed flat): £149.90
  • How ‘rich’ is Liverpool? £232.7m earned by working professionals each week

14. Manchester

  • 5-year start-up survival rate: 38.9%
  • Average gross weekly pay: £570.80
  • Self-employed rate: 7.5%
  • Population: 541,300
  • Average utility bill (1 bed flat): £148
  • How ‘rich’ is Manchester? £288.6m earned by working professionals each week

13. Birmingham

  • 5-year start-up survival rate: 39%
  • Average gross weekly pay: £523
  • Self-employed rate: 8.6%
  • Population: 1,124,800
  • Average utility bill (1 bed flat): £140.30
  • How ‘rich’ is Birmingham? £544.2 earned by working professionals each week

12. Cardiff

  • 5-year start-up survival rate: 41.4%
  • Average gross weekly pay: £528.80
  • Self-employed rate: 7.2%
  • Population: 361,500
  • Average utility bill (1 bed flat): £95.40
  • How ‘rich’ is Cardiff? £180.5m earned by working professionals each week

11. Sheffield

  • 5-year start-up survival rate: 42.3%
  • Average gross weekly pay: £526.60
  • Self-employed rate: 7.9%
  • Population: 575,400
  • Average utility bill (1 bed flat): £132.30
  • How ‘rich’ is Sheffield? £286m earned by working professionals each week

10. Southend-on-Sea

  • 5-year start-up survival rate: 42.4%
  • Average gross weekly pay: £573.20
  • Self-employed rate: 10.3%
  • Population: 179,800
  • Average utility bill (1 bed flat): £137.30
  • How ‘rich’ is Southend? £97.9m earned by working professionals each week

9. Newcastle upon Tyne

  • 5-year start-up survival rate: 42.5%
  • Average gross weekly pay: £532.50
  • Self-employed rate: 7%
  • Population: 296,500
  • Average utility bill (1 bed flat): £149.40
  • How ‘rich’ is Newcastle? £146.7 earned by working professionals each week

8. Milton Keynes

  • 5-year start-up survival rate: 42.6%
  • Average gross weekly pay: £602.40
  • Self-employed rate: 9.7%
  • Population: 264,500
  • Average utility bill (1 bed flat): £165.70
  • How ‘rich’ is Milton Keynes? £152.6m earned by working professionals each week

 7. Bristol

  • 5-year start-up survival rate: 43.8%
  • Average gross weekly pay: £539.90
  • Self-employed rate: 10.4%
  • Population: 454,200
  • Average utility bill (1 bed flat): £142.80
  • How ‘rich’ is Bristol? £233.9m earned by working professionals each week

6. Leeds

  • 5-year start-up survival rate: 44.2%
  • Average gross weekly pay: £507.80
  • Self-employed rate: 8.4%
  • Population: 781,700
  • Average utility bill (1 bed flat): £122.10
  • How ‘rich’ is Leeds? £378.7m earned by working professionals each week

5. Edinburgh

  • 5-year start-up survival rate: 44.2%
  • Average gross weekly pay: £598.50
  • Self-employed rate: 7.3%
  • Population: 507,200
  • Average utility bill (1 bed flat): £102.40
  • How ‘rich’ is Edinburgh? £292m earned by working professionals each week

4. Leicester

  • 5-year start-up survival rate: 44.4%
  • Average gross weekly pay: £497.90
  • Self-employed rate: 5.2%
  • Population: 348,300
  • Average utility bill (1 bed flat): £159.50
  • How ‘rich’ is Leicester? £166m earned by working professionals each week

3. Brighton & Hove

  • 5-year start-up survival rate: 45.9%
  • Average gross weekly pay: £577.90
  • Self-employed rate: 16%
  • Population: 289,200
  • Average utility bill (1 bed flat): £149.40
  • How ‘rich’ is Brighton & Hove? £158.8m earned by working professionals each week

2. Bath

  • 5-year start-up survival rate: 49.1%
  • Average gross weekly pay: £543.30
  • Self-employed rate: 12.5%
  • Population: 187,100
  • Average utility bill (1 bed flat): £109.70
  • How ‘rich’ is Bath? £97.6m earned by working professionals each week

1. Aberdeen

  • 5-year start-up survival rate: 53.5%
  • Average gross weekly pay: £583.90
  • Self-employed rate: 7.7%
  • Population: 229,800
  • Average utility bill (1 bed flat): £195.30
  • How ‘rich’ is Aberdeen? £127.7m earned by working professionals each week

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