Nottingham named as second-best place in UK to start a business
Nottingham is the second-best place in the UK to start a business, according to a new study.
Payments business Paymentsense says that Nottingham’s Creative Quarter and Enterprise Zone are big pluses for start-ups, while digital media, life sciences, low-carbon technologies, finance, retail, and leisure are “major contributors” to Nottingham’s economy.
The survey points out several impressive statistics on Nottingham, including:
– 5-year start-up survival rate: 43.4%
– Average weekly pay for full-time workers: £506.40
– Average monthly cost to rent a 1-bed city centre apartment: £579.41
– Population: 729,977
– Number of employed adults: 112,861
– Money available per week: £57,152,810.40
Dan Smith, CEO of Retail Assist, says: “As Retail Assist enters its twentieth year, we feel we have really benefited from the positive conditions for business that Nottinghamshire delivers.
“Less than fourteen years ago we had a team of barely twenty staff and just two clients, supported from small premises in Bingham, and now we find ourselves close to 250 team members, delivering services and solutions to some of the biggest names in retail and hospitality in 68 countries worldwide.
“Nottingham has all the key attributes necessary for creating a successful business.”
Leicester is ranked fourth in the tables. The report says: “Recent years have seen a resurgence in these areas, as some textile manufacturers have moved back to the city. Much of Leicester’s commerce also lies in the engineering, retail, and food and drink sectors.”
Sheffield tops the list.
