Leicester second best city to start a business, says report

Leicester is the second best city in the UK in which to start a business, according to Barclays’ SME Growth Factors Index, with some of the best growth environments for small businesses to grow and flourish.

The Index, created by Barclays Business Banking, reflects the strength of 12 key growth factors such as business rate relief, infrastructure, broadband speed and labour productivity, which are essential to boosting business productivity and growth. Analysing the 20 largest cities by population size across the UK, the index ranks each city based on the strength of each factor.

Leicester featured in second place thanks to its strong business survival rate, distance travelled to work and level of business rate relief.

Ian Rand, chief executive of Barclays Business Banking, said: “It’s really encouraging to see that so many areas offering growth potential are outside of London and the South East. We undertook this study because we support small companies right across the country, and are keen to help more people start and grow businesses wherever opportunities exist.

“Entrepreneurs need to consider the market for their particular company, but an environment that supports growth can make a real difference. The growth factors identified by the research can become even more valuable when small companies start looking to scale up and grow, which is something we particularly encourage.”