UK's entrepreneurial hotspots revealed and Scottish cities fail to make top 10
Portsmouth has been ranked as the “most entrepreneurial city in 2020” with Scotland’s two largest cities failing to make it into the top ten.
Instant Offices’ Entrepreneurial Index ranks major cities in the UK by analysing Companies House data and comparing new business to population ratio.
While Portsmouth ranks as the most entrepreneurial city this year, with new businesses increasing by 33 per cent year-on-year, Glasgow could only make 16th place (up 15 per cent) with Edinburgh taking 19th spot (up 10 per cent).
Out of the 21 cities analysed, Cardiff shows the slowest growth year-on-year at 5 per cent. However, Instant Offices claimed this was still “extremely positive”.
John Williams, the flexible workspace firm’s head of marketing, said: “Despite uncertainty caused by the pandemic, we could see a record number of new companies launching as entrepreneurs emerge across the country.
“The onset and spread of the pandemic has had a massive impact on the growth of entrepreneurship in the country, with many new businesses having to pivot to survive during the crisis.
“While the exact implications of Covid-19 on business and the economy at large is still uncertain, the UK’s innovative and entrepreneurial spirit endures.”
According to the latest UK Flexible Workspace Market Report from Instant, there has been a rise in demand within smaller, regional markets, with some towns seeing growth of well over 100 per cent. With suburban demand on the rise, average desk costs for flexible offices have increased by 5 per cent, where rates have dropped by 6 per cent in London. Link to visual infographic of the cities
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