Area has a ‘dynamic entrepreneurial landscape’ say experts.
Milton Keynes has been ranked in the Top 10 of UK cities for startups. The city is praised for its appeal to new companies and is described as a ‘modern business hub', by the survey from engineering firm Accu Components.
MK ranks 10th in the new findings with nearby Luton coming top. Northampton is listed in 51st place.
The study ranked UK cities based on five key indicators: business startups and closures per 10,000 residents, new economy firms per 10,000 residents, high-growth businesses, and economic inactivity rates. Each factor was indexed from 0 to 100 and weighted according to its importance in fostering a successful startup environment.
Milton Keynes’ ranking factored in 37.0 new economy firms and 53.7 startups per 10,000 residents. The city supports 65 high-growth businesses and has an economic inactivity rate of 21.6%, says the survey.
“Milton Keynes has consistently developed as a modern business hub with strong transport links and a growing number of high-growth firms,” Alastair Morris, Managing Director, Accu Components told MKFM.
“Ranking fourth nationwide for high-growth businesses and fifth for new economy firms per 10,000 residents, the city has a dynamic entrepreneurial landscape. While its economic inactivity rate of 21.6% is slightly higher than some competitors, its resilience in fostering high-growth ventures makes it an attractive destination for ambitious entrepreneurs looking to scale their businesses.”
The research analysed several key metrics that indicate how well a city supports new business ventures.
“A good startup hub isn’t just about the number of businesses being launched,” added Alastair Morris. “It’s also about the sustainability of those businesses, the local economy’s strength, and the opportunities for growth.”
Top 10 UK cities for startups
- Luton
- Brighton
- Ipswich
- London
- Cardiff
- Peterborough
- Oxford
- Cambridge
- Warrington
- Milton Keynes
More details: https://www.accu.co.uk.
