Guess what, London is not the UK's best place to run a start-up. Not even close!
At least, that's what Sungard Availability Services says, and the information availability provider has done its research.
In fact, it's Cambridge that's been named 'best UK city for business', followed by Oxford and Brighton.
So, what were the criteria? Rental prices, volume of competition, as well as internet speeds were looked at. Survival rate, as well. It's the first two, and the last criteria that shoved London down to ninth spot, even though its internet speeds are high, and the number of start-ups in the Silicon Roundabout eight times higher than anywhere else in the country.
What was also interesting to notice is that no city or town scored high in every aspect – if it wins in one, it usually fails, miserably, at another – showing that the entire UK still has much room for improvement.
Still, Sungard's report argues that the North, with York and Leeds at the forefront, could be tempting away skilled workers from the capital. York was on top of the start-up survival rate, with initiatives such as the Whyte Knight Fund, giving new firms financial aid and support they need to get the business up and running.
“These findings certainly paint an interesting picture for different business capabilities across the UK,” said Keith Tilley, EVP, global sales & customer services management at Sungard Availability Services.
“Traditionally London has been viewed as the business and digital hub for the UK, so it’s great to see other cities across our country excelling in different areas, such as access to graduate talent, start-up survival rate and average download speed.”
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