A recent study conducted by Merger & Acquisition Advisor has unearthed some interesting insights into the best locations for start-ups in the UK. The study based its findings on a number of criteria, including new enterprise births, business growth, business survival rates, economic indicators, salary levels, education, and life satisfaction scores. The scores were combined and weighted to generate a final ranking.
Top Locations for Start-Ups
The top 20 locations for start-ups in the UK were determined, with London dominating the list. Westminster, Camden, and Barnet ranked as the top three locations. Other notable cities include Birmingham, Edinburgh, and Brighton.
Westminster ranked first with a score of 80. It had a high number of new enterprise births, a high business survival rate, and a strong fintech presence. The area’s proximity to London’s infrastructure and commuting convenience also contributed to its high life satisfaction score.
Camden ranked second with a score of 74.23. Although it had fewer new enterprise births, it had a higher business growth rate, higher economic indicators, and a competitive average weekly salary.
Barnet secured the third spot with a score that pushed Brighton out of the top three. It had a strong business survival rate, competitive economic indicators, and a high life satisfaction score.
Bottom Locations for Start-Ups
The study also identified the lowest-ranking locations for start-ups. Merthyr Tydfil in Wales scored the lowest, followed closely by Inverclyde and North Ayrshire in Scotland.
Implications for the Fintech and Finance Industries
The study suggests that a combination of high business survival rates and a low cost of living is appealing to founders and potential employees in the fintech and finance industries. Proximity to educated workforces and sustainable economic indicators are important factors for start-ups when choosing a location.
Opportunities for Job Seekers
High-ranking areas, especially those around London, offer numerous job opportunities in the fintech and finance sectors. Leading companies such as Ripple, Revolut, and Zilch are currently hiring in the capital. Opportunities also exist with Moneygram and Santander in other parts of the UK, including Glasgow.
Explore the AltFi Job Board today to find your next opportunity.