Five best locations for a Tech Startup in the UK
Location. Does it matter for your business? It does if the success of your startup is reliant on customer traffic. It does if your business’ success depends on easy and fast access to resources such as raw materials, power, and broadband. It does if convenience is a top priority for you and your employees.
In this post, we look at 5 locations in the UK that will be most ideal for tech startups. Shocker, London is not one of them. The city has the highest potential but cut-throat competition and the high cost of living may end up choking your startup before its fully mature. London has been reported to have the highest number of insolvencies.
Here are the alternatives.
Leeds I England
Population - 455,123 (2020)
5-year start-up survival rate: 42.88%
Leeds will be a great destination for your startup thanks to its diverseness. It is particularly known for its legal and finance centres but is also a home for other sectors including Engineering, chemicals, medical and tech.
Sheffield I England
Population - 685,368 (2020)
5-year start-up survival rate: 42.66%
Sheffield may no longer be the big player in the steel industry it once was but it stands as a great destination for startups especially those looking to provide tech solutions to the now dominant manufacturing industry.
Edinburgh I Scotland
Population - 537,000
5-year start-up survival rate: 42%
Edinburgh boasts of being the second city in the UK with the biggest economy after London. It’s also the city with the most professionals. About 43% of Edinburgh’s population have a certified degree or some sort of professional qualification. You won’t be short of skilled labour here.
Cardiff I Wales
5-year start-up survival rate: 40.2%
Cardiff is the heart of Wales and as such promises a ready market, resources and workforce for your startup.
Glasgow I Scotland
5-year start-up survival rate: 37.46%
The survival rate for start-ups in Glasgow is the least on this list but the city is Scotlands biggest economy and its high population promises a lot of potential. That and the multiple industries that are flourishing in the city. These include communications, biosciences, finance, healthcare, and even retail.