The UK’s top locations for startup growth in 2017

Business information service DueDil released the details, which found that Salford in Manchester topped the ranking for startup growth, with an 85.4 per cent year-on-year increase for new businesses.

Some 751 new Salford startups were forged in Q1 2016, which spiked to 1,393 in Q1 2017. Startup growth for the full year, meanwhile, saw 2,850 companies open locally in 2016, which is forecast to hit 5,286 this year.

Seemingly Salford is in a league of its own in terms of its attraction for startup growth, as new businesses are flocking to the spot.

Behind Salford’s 85.4 per cent surge, Leicester secured the second spot for startup growth with a year-on-year change of 34.45 per cent. That number dropped significantly still for Norwich in third place with a 22.12 per cent startup growth increase. Liverpool and Oxford rounded off the top five.

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By comparison, London was much further down the ranking for startup growth with a 5.12 per cent increase year-on-year.

That said, the UK capital is still the leader for startup growth with 57,235 companies launched in the first quarter of this year alone up to 223,966 for 2017. Birmingham, Manchester, Glasgow and Leeds join London as the five cities producing the most startups, although that could change in time.

Justin Fitzpatrick, COO and co-Founder of DueDil, said: “Interestingly, just a handful of the UK’s major cities made the overall top 20 for startup growth, with cities such as London, Birmingham, Glasgow and Leeds all absent from the top rankings, suggesting that they are slowly losing their grip on their status as the UK’s startup growth.

Catch the full ranking of top locations for startup growth below.

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While certain regions may be booming, the 173,100 companies started during the first three months of this year is down year-on-year.

“The overall decrease in startup growth across the UK, is perhaps demonstrating a cautious attitude towards enterprise with Brexit looming. Banks and alternative finance providers have an opportunity to play a role in growth through investment,” added Fitzpatrick.

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