Leicester revealed as UK start-up hotspot

Leicester: a start-up hotspot

A new study has shown that Leicester is the second best place in the UK to start up a business.

The report, by business information firm DueDil, shows that Leicester comes second only to Salford for entrepreneurs looking to set up a new enterprise.

Leicester experienced a 34.45% increase in the number of new businesses (1,163) starting up in the first quarter of 2017, than in the same period last year.

Derby also experienced a healthy startup growth rate of 16.11%, with 591 new companies starting up in the first quarter of this year, compared to 509 for the first quarter of 2016.

Lincoln experienced growth of 18.05, and created 157 new companies starting up in the first quarter, while Northampton’s new business creation shrank by 1.68%.

And the number of new businesses starting up in Nottingham in the first quarter of 2017 increased by 13.66% from the previous year.

DueDil says that based on its startup growth rate, Leicester can expect to produce an estimated 4,813 new companies for the whole of 2017.

London experienced a modest startup growth rate of 5.12%. However, despite failing to clinch a spot in the top five for startup growth, London continued to produce more startups than anywhere else in the UK, with 57,235 new companies starting up in the capital in the first quarter of 2017.

Justin Fitzpatrick, COO and co-founder of DueDil said: “Interestingly, just a handful of the UK’s major cities made the overall top 20 for startup growth, with cities such as London, Birmingham, Glasgow and Leeds all absent from the top rankings, suggesting that they are slowly losing their grip on their status as the UK’s startup growth.”

He added: “The overall decrease in startup growth across the UK, is perhaps demonstrating a cautious attitude towards enterprise with Brexit looming. Banks and alternative finance providers have an opportunity to play a role in growth through investment.”

Town/CityYOY % ChangeFirst Quarter 2016First Quarter 2017Full Year 2016Forecast for 2017
Salford85.49%751139328505286
Leicester34.45%865116335804813
Norwich22.12%31238111151362
Liverpool21.71%1207146949285998
Oxford18.32%2733239961178
Swansea18.29%33940113831636
Lincoln18.05%133157500590
Swindon16.35%31236312411444
Derby16.11%50959121532500
Stoke-on-trent15.62%33338513141519
Southampton14.47%47754619142191
Nottingham13.66%65974924492783
Plymouth12.99%30834811951350
Bolton12.74%73883227883143
Peterborough11.90%46251716021793
Sunderland9.09%33036011391243
Kingston Upon Hull8.87%37240514051530
Exeter8.08%198214789853
Belfast7.99%48852719112064
Wolverhampton7.60%59263726682871
Worcester6.21%161171559594
Birmingham6.08%391241501656917577
Middlesbrough5.83%32634512401312
Cardiff5.19%73277027862931
London5.12%5444957235213064223966
Glasgow2.47%2021207178478041
Aberdeen2.34%47048117001740
Manchester1.90%2471251894919672
Gloucester1.08%186188710718
Bradford0.97%1033104338153852
Leeds0.44%1809181772917323
Sheffield-0.51%97797236223603
Newcastle upon Tyne-0.61%49349019111899
Chelmsford-0.72%41641314931482
Cambridge-1.25%31931511551141
Coventry-1.35%81780630753034
Northampton-1.68%59458422832245
York-1.78%33833212511229
Bristol-2.60%1347131251224989
Milton Keynes-4.14%79776430352909
Southend-on-sea-4.66%57955221072009
Edinburgh-8.38%1742159666666107
Dundee-11.73%39234611361003
Portsmouth-17.64%58448122601861
Warrington-18.86%1336108451894210
Brighton and Hove-19.11%1324107144513600
Bournemouth-19.24%62950820991695
Luton-75.02%258664668801719

 

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