Birmingham most entrepreneurial city outside London, says research

Birmingham has been revealed to be the most entrepreneurial city in the UK outside London in new research by the Start Up Loans Company.

The survey revealed the areas that secured the most funding from the Start Up Loans Company last year, with Birmingham securing over £2 million, up by 39 per cent on 2015. This was followed by Cornwall, which secured £1.3 million.

Boom

The research found that several cities saw a big boom in funding last year, including Durham, which secured £1.2 million and saw a 243 per cent increase in investment on the previous year. Sheffield earned fourth place, securing £1.2 million, whilst Leeds came in seventh place with £923,990, and Manchester tenth place with £800,300.

The South also saw an increase in funding from the Start Up Loans Company, with Bristol raising over £1 million, up by 63 per cent, and Bournemouth securing over £868,120, an increase of 113 per cent.

Other cities that were named in the research included Edinburgh, which secured £937,123, a rise of 40 per cent, and Glasgow, where investment was up by 89 per cent to £860,015.

Boost

Commenting on the research, Start Up Loans Company CEO, Tim Sawyer, said: “A boost in government and private funding for infrastructure and industries in former manufacturing hubs like Durham has brought with it a renewed start-up fever north of the capital.”

He added that whilst London is undeniably a strong hub for start-ups, it is encouraging that start-ups in various regions are popping up.