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Reading below the line: The most successful new businesses opening in the UK by geography

How many businesses were incorporated in the UK’s largest 25 cities from December 2017 to December 2022?

Reading, the UK's surprising business hotspot. Image © Tim Sandle.
Reading, the UK's surprising business hotspot. Image © Tim Sandle.

A new study from CMC Markets has revealed which U.K. cities are home to the most successful new businesses. The data sets is indicative that the U.K. is slowly picking up its economic base. The availability of candidates for new jobs rose in June at the sharpest rate since December 2020.

The data from the study revealed Reading has the lowest percentage of closures, with just 0.13 percent of businesses launched between Dec 17-Dec 2022 going into liquidation. Stoke-on-Trent, Plymouth, and Cardiff make the top five, with less than 1 percent of new businesses ceasing in the last five years.

The research 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.

Alongside Reading, Stoke-on-Trent, Plymouth, and Cardiff are also home to some of the UK’s most thriving businesses and entrepreneurs.

The top ten shows:

CityNo. of Reported OpeningsNo. of Reported ClosuresPercent of Closures
Reading6,87790.13%
Stoke-on-Trent6,228130.21%
Plymouth4,744130.27%
Cardiff18,232580.32%
Edinburgh17,372710.41%
Bradford2,655110.45%
Bristol17,043940.55%
Northampton8,993490.55%
Derby8,109450.56%
Belfast7,819620.79%

In contrast, the 10 cities with the least successful new businesses are:

CityNo. of Reported OpeningsNo. of Reported ClosuresPercent of Closures
Southampton5,3371623.04%
Sheffield13,2413973.00%
Birmingham16,3303332.04%
Leeds15,3772761.80%
Manchester35,5256221.75%
London23,1923201.38%
Coventry12,9001761.36%
Newcastle upon Tyne7,988961.20%
Kingston upon Hull6,036621.03%
Nottingham9,863950.96%

The data reveals Southampton is the city with the highest number of closures in comparison to openings between Dec 17 and Dec 2022, with 162 of these businesses ceasing trading.

Sheffield is next with 3 percent of closures, followed by Birmingham (2.04 percent) and Leeds (1.80 percent).

The City of London is also, surprisingly, amongst the areas with the least successful new businesses, seeing 1.38 percent of closures.

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Written By

Dr. Tim Sandle is Digital Journal's Editor-at-Large for science news. Tim specializes in science, technology, environmental, business, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.

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