Know Your Money, one of the UK’s leading independent financial comparison websites, recently conducted research to find out which UK cities are best to start a business outside of the capital.

The top ten cities include:

  1. Birmingham
  2. Sheffield
  3. Glasgow
  4. Leeds
  5. Coventry
  6. Edinburgh
  7. Nottingham
  8. Bristol
  9. Leicester
  10. Brighton

The research also revealed that:

  • Birmingham has the largest active business population in the UK, outside of London
  • Sheffield has the highest business survival rate in the UK (44.9%), while London has one of the lowest (39.3%)

To find out which UK cities are best for new businesses, Know Your Money considered the following factors for each city:

  • Business landscape
  • Access to talent
  • Quality of life
  • Growth and development
  • Infrastructure
  • Funding and support
  • Future development

Know Your Money’s rankings were determined by using a range of quantifiable and comparable data from official sources and unique insights from their own data. The data was extracted from a number of official sources, as well as industry research and analysis, including:

Know Your Money’s Finance Director, Nic Redfern commented:

“Small Businesses are key to the future of the UK economy and this study shows a lot has been done to develop an economic environment across the country in which they can thrive. There are challenges ahead for some interesting cities that did not make it into the Top 10, clearly, there is still more work to do to help the spread of opportunity to reach across the country."

For more information, please see here