RESEARCH from CMC Markets has revealed Edinburgh in the top 5 of UK cities opening the most successful new businesses in the last five years, with just 0.42% going into liquidation.
The study used business intelligence software, Endole, to analyse how many businesses were incorporated in the UK’s largest 25 cities from December 2017 to December 2022 compared to the number that went into administration, liquidation, or were dissolved.
Reading came out on top, while Stoke-on-Trent, Plymouth and Cardiff, also home to some of the UK’s most thriving businesses and entrepreneurs, made up the rest of the top 5.
You can see the top 20 cities below.
The 10 UK cities with the most successful new businesses
Reading is the city with the lowest percentage of business closures (0.13%), suggesting this is a hotspot for talented entrepreneurs.
Stoke-on-Trent lands in second place, with 6,228 new businesses opening in the last five years and just 13 reported closures.
Plymouth lands in third place with just 0.27% of new businesses struggling to survive, followed by Welsh capital Cardiff with just 58 closures.
Scottish capital, Edinburgh, also makes the top five cities for successful businesses, with a closure rate of 0.41%.
Bradford also deserves an honourable mention, with just 11 closures out of 2,665 openings.
|City||No. of Reported Openings||No. of Reported Closures||Percent of Closures|