Bath 2nd best UK city for starting a business
Bath has ranked very highly in a list of the top cities to launch a business in the United Kingdom, taking second place behind Aberdeen and sitting ahead of Birmingham, Bristol and Manchester.
The research by card payment provider Paymentsense used measures such as five-year start-up survival rates, self-employment rates and average gross weekly pay to compile the rankings.
Bath’s five-year business survival rate stood at 49.1%, well ahead of Bristol at 43.8% and more than 10 percentage points higher than that of Liverpool. Bath also scored very well on self-employment with a rate of 12.5%, second only to Brighton & Hove. Bath also has a slightly higher average earnings than Bristol, with average gross weekly earnings of £543.30 in Bath compared to £539.90 in Bristol.
The research also pointed out how growth in the software, publishing and business services sectors is broadening and adding value to Bath’s economy, which historically has been driven by tourism and retail.
The 15 best cities in the UK to launch a business
3. Brighton & Hove
8. Milton Keynes
Inspired to start a business?
There has never been a better time to start a business in Bath & North East Somerset. Residents can get up to 12 hours of free support and guidance to get started and boost their chances of long term success. Visit the news page about our business support programme for more information.