Research reveals best place to start a business
New research from Vonage has shown the best locations in the UK for entrepreneurs and fledgling companies.
The study shows the survival rate of start-ups since 2014, when over 500,000 new companies were launched. Graduate pools in local areas, broadband speeds and property prices were also looked at in the research.
Whilst London is considered one of the worst places to launch a start-up, the research showed that there are many boroughs that are ideal for aspiring entrepreneurs.
Winchester was found to have the best start-up survival rate in the UK, with over 75 per cent of businesses surviving since 2014. Over 700 businesses launched in Winchester in 2014, with haulage being listed as the top industry in the area.
“In close proximity to London, in the heart of the comparatively prosperous South with access to the nearby graduate pools of Oxford and Cambridge, Winchester is well placed for startups keen to stay connected, but also keen to avoid the sky high rents and costs of living found in London,” said a spokesperson for Vonage.
Also included in the list of top locations were Richmond upon Thames, Bexley, Sutton and Hackney, which came in at number 2, 3, 4 and 5 respectively.
The research also showed that many locations outside of London are ideal for start-ups, including Norwich. The city ranked number 7, with a survival rate of 72.9 per cent and business support services being listed as its top industry.