Which UK city has been named best place to start a new business?
Birmingham has been crowned the UK’s regional startup capital for the seventh year running new data reveals.
18,394 new enterprises started life in the city throughout 2020, marking the highest volume of startups outside London. Overall, Birmingham saw a 26.8% uplift in business births from 2019.
The figures are the latest in an annual study from think-tank Centre for Entrepreneurs (CfE).
This year’s findings also ranked West Midlands locations Sandwell and Coventry highly on the list, while Wolverhampton’s registrations increased by over 30% from the previous year.
Although nationwide lockdown restrictions impacted the rate of formations across the UK, the West Midlands – alongside London – had the strongest recovery of any region, recording 62% growth in June.
Neil Rami, Chief Executive at the West Midlands Growth Company, comments: “Amid the testing economic uncertainties of the last year, these latest figures demonstrate the robustness of the West Midlands’s creative and innovative entrepreneurial landscape. It is encouraging to see Birmingham uphold its leading reputation as a thriving and vibrant hub of invention for a seventh year in a row.
“Despite the prevailing challenges faced by businesses, we hope this year’s Coventry City of Culture programme and the 2022 Birmingham Commonwealth Games will inspire more ambitious entrepreneurs to explore how the West Midlands can elevate their ideas to the next level.”