A new report by StartUp Britain reveals the UK's hottest startup locations.
Data from Companies House shows that in 2013, over half a million new startup businesses were created - a new record - demonstrating that the nation's entrepreneurial spirit is certainly alive and kicking. In total, 526,446 new businesses were registered in 2013, beating the 484,224 businesses recorded in 2012 and 440,600 in 2011.
Greater London and the South East have been described as Britain's "entrepreneurial powerhouse", while other regions are well represented by top performing cities including Birmingham, Manchester and Glasgow.
The top 10 locations with the highest concentration of new businesses in 2013 are as follows:
1. Greater London – 136,939
2. Birmingham – 16,281
3. Manchester – 11,765
4. Harrow – 9,259
5. Glasgow – 8,085
6. Bristol – 7,589
7. Brighton – 7,499
8. Edinburgh – 7,112
9. Warrington – 6,776
10. Sheffield – 6,551
In particular, ninth-placed Warrington is currently enjoying its share of the limelight with plenty of new developments to suggest that the Northwest town is set for further economic growth. Last year it was announced that Warrington is set to gain from various projects totalling more than £450 million in value, while the new £10 million University Technical College is set to strengthen the city's engineering skills for the future.
These initiatives, plus the findings by StartUp Britain, cast a positive light on Warrington as noted by Sallie Maskrey of Portal Business Centres, who says that the town's accessible location and low business costs make it a "very desirable option" for small and startup businesses.
She added: "We have seen an increase in enquiries for smaller offices, which ties in with what these reports are telling us. Our shared office has grown in size as well, with small start ups basing themselves in a co-working space before making the leap to their own office, and national and regional companies looking to keep travelling costs down and basing field based staff in this sort of space rather than have them work out of head offices which are often down south."
Research suggests that small and micro businesses represent 95% of all companies in the UK and employ more than seven million people between them. Flexible workspace operators should pay attention to these findings and use the data to understand which areas of the country are drawing the most new startup talent.
Are you marketing to these business owners correctly? Are there potential expansion opportunities? Could you tailor your offering to target local startups? Given the record-breaking number of new start businesses and the wealth of government support initiatives currently available, these are certainly questions worth asking.
A full postcode summary of the most popular startup locations is available here.