Your company’s location will shape its success. The destination you pick will determine consumer demand, internal skills, direct competition, and your price point.
Rather than setting up a business in your hometown, you must pick a location that is the best fit for your venture to improve its chances of success. Here are the three best cities to start a business in the UK.
1. London, England
London is the most natural choice for starting a brand-new business. The 2019 Global Start-up Ecosystem Report ranked the English capital as the third best start-up hub in the world behind Silicon Valley and New York City.
Thanks to the city’s huge concentration of people and investments, it provides a diverse destination for businesses of all sizes and industries to flourish. Also, London beat New York for the most popular city for young entrepreneurs, and it is home to 115 entrepreneurs on the Forbes Under 30s list.
If London feels like the right choice for launching your new company, you will need to find the perfect office to kickstart your venture. Visit theworkplacecompany.co.uk to discover the best offices to rent in London and negotiate the best possible lease for your business. If you want to turn your business into a global or national brand, look no further than London.
2. Edinburgh, Scotland
Despite its historic architecture and intriguing past, Edinburgh is a smart choice for modern businesses, as it has a high level of digital connectivity and a skilled workforce. Also, the Scottish capital has one of the strongest UK economies outside of London and was ranked 4th in Europe in the latest Global Financial Centres Index.
If the above facts don’t convince you to start a business in this city, you might be pleased to learn that Edinburgh attracts a whopping 14.1 million visitors annually. Part of its appeal is due to its historic landmarks and attractions, such as Edinburgh Castle, Palace of Holyrood house, National Museum of Scotland, and Arthur’s Seat.
If you are unsure if Edinburgh is the right pick for your start-up, it might provide peace of mind that the capital is home to many thriving sectors, including financial services, life sciences, renewable energy, robotics, and food and drink.
3. Manchester, England
Manchester transformed into an entrepreneurial capital during the COVID-19 pandemic. Nearly 200,000 companies have formed in the city since the nation went into its first lockdown, and the number keeps growing. That is one start-up company per 143 residents in the North West city.
The entrepreneurial spirit hasn’t waned, either. For this reason, new businesses can expect to compete with many rivals, but the right product could result in a healthy annual revenue and profit.
If you are worried about the location, it might bring you comfort to know that Manchester has fantastic transport links to various destinations across the country. Also, it is surrounded by many cities with skilled, experienced workforces, including Liverpool, Leeds, Sheffield, and Wigan.
