Ipswich has been named the best location to start a small business in the UK, according to new research.
The study of 63 of the largest UK towns and cities, focused on a number of factors that can prove important for SMEs to thrive. These factors include digital connectivity, property prices and pollution levels, as well as business start-up and closure numbers over a three year period.
The proportionate number of patent applications made in each town and city was also examined, to highlight areas with the most entrepreneurial spirit.
Ipswich’s success was due predominantly to low pollution levels, high levels of ultrafast broadband, and a low rate of business closures. Dundee took second place, mainly due to a very low churn rate of businesses, whilst third placed Derby enjoyed a proportionately high number of patent applications.
Other towns and cities to make up the top 20 this year include Portsmouth, Bristol and Edinburgh. London could only manage 38th position despite coming top for the number of business start-ups. This was because the capital also had the highest number of business closures and the highest property prices. Last year’s winner Brighton fell to fifth place overall this year.
Darren Nicholls, Product Manager for Informi said: “SMEs throughout the UK create many thousands of new businesses in every town and city every year. This brings new jobs, prosperity and growth to local communities whilst benefitting the wider economy too.
“It is encouraging to see that there are a variety of environments where small businesses can do well, but for every success story there are still far too many failures, where businesses have been unable to survive and thrive. Those thinking of becoming an entrepreneur should seek out guidance and advice – such as our how to start a business in 20 days eBook – to help them take their first steps.”