Brighton ranked fifth best place to start a business

Brighton and Hove has been named as the fifth best place in the UK to start a business. The city also has the highest business survival rate of locations ranked in the top ten.

This is according to research from Utility Bidder, which examined variables including office rental prices, broadband costs, business survival rate and first-year expenditures to reveal the best UK locations for startups.

As the only South East location to feature in the top ten, Brighton’s particular strengths are its already noted high business survival rate (of 44.2 per cent) and the high number of people with NVQ Level 4 or above in the city (59.9 per cent).

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The research also found that the best place in the UK for workers, with an average net monthly pay of £3,591.50, is Portsmouth.

Reading scores highest in the South East outside London in terms of affordability of office rental, sitting in joint fifth in the UK with an average city rent cost of £33.75,  alongside Manchester.

With research suggesting an average UK startup will spend around £22,000 in its first year, and a cost of living crisis impacting both businesses and their customers alike, it is interesting to note that the highest first-year expenditure is often legal expenses averaging at £6,259.

The full findings from the research can be found here.

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