Nottingham Makes it in The Six Best British Locations in Which To Launch a New Business

Based on those criteria, new research from the payments business Paymentsense aims to identify the locations where your start-up has the best prospects of success. It looked at how businesses launched in each location previously have fared, as well the size of the local market – based on the population, employment rates and people's spending power – as well as the costs of operating in the area such as average pay rates and rental prices.

The results, aggregated in an index created from these factors, may surprise you. London could manage only 15^th place in the company’s research while the best locations for start-ups are all based some distance from the South-East. Only Sheffield outscored according to Paymentsense’s analysis. And only very narrowly.

Here is how Nottingham was rated;

"Historically, Nottingham was known for its bicycle manufacturing and lace-making. These days, it’s home to many major companies, while newer businesses are benefiting from the Nottingham Enterprise Zone and Creative Quarter. Digital media, life sciences, low-carbon technologies, finance, retail, and leisure are major contributors to Nottingham’s economy."

5-year start-up survival rate: 43.4%

Average weekly pay for full-time workers: £506.40

Average monthly cost to rent a 1-bed city centre apartment: £579.41

Population: 729,977

Number of employed adults: 112,861

Money available per week: £57.1m

Index score out of 5: 2.66

Full Forbes story here https://bit.ly/2tolzzj