Payment Sense, a leading merchant services provider throughout Europe, has placed Leicester in the top five cities to start a business in the UK today. The report focuses on Leicester’s history in textiles and shoe manufacturing and how industry still plays a huge role in our economy, along with engineering and retail. Amongst Leicester, the other top five places to start a business are Aberdeen, Bath, Edinburgh and Brighton & Hove.
The data for Leicester also suggests the following about Leicester:
- Amount of start-ups surviving for more than five years: 44.4%
- Average gross weekly pay: £497.90
- Rate of self-employed people: 5.2%
- Population: 348,300
- Average cost of utilities (1 bed flat): £159.50
- Gross income earned per week by working professionals in Leicester: £166m
It’s no secret starting a business is tough: more than half of UK start-ups don’t survive the first couple of years, with rising least costs and utilities, poor cash management being some of the biggest headaches faced by start-ups today. As such, there are numerous endeavours across the city which are designed to invest in start-ups.
The UK Space Agency, the Hub is providing exciting opportunities for space entrepreneurship and pre-start-ups in the space sector to access industry-specific pre-incubation business services. This includes entrepreneur and academic expertise from the space sector, flexible workspace and pre-incubation start-up workshops and coaching.
The University of Leicester is supporting start-ups in Leicester both originating locally and from the University. In the last nine years, more than 5,000 students took part in enterprise activities and start-up programmes which resulted in hundreds of Leicester University students going on to start new businesses with an above average survival rate and an average of 2 jobs created per business.
The Leicester Innovation Hub, part of the University of Leicester, is building on this success by offering dedicated incubation/start-up support to even more students and graduates. Qualifying Small and Medium Enterprises (SMEs) based in Leicester and Leicestershire interested in developing new products, services and processes with them can potentially access free or heavily subsidised innovation support. Funding includes Innovation Vouchers of up to £4,000, redeemable only within the University of Leicester.
Premier Inn, Leicester (Source: Payment Sense)
Leicester is a place with big ideas and even bigger ambitions. It’s a place where businesses thrive and grow; home to three leading universities all committed to continued investment and over 50,000 high-quality graduates within Leicester and access to over 1 million more within a 45 minutes radius.
More businesses are choosing Leicester as their base to expand and grow and is one of Britain’s most attractive and cost-effective places to develop, own or lease commercial property, making us the ideal destination for your business to thrive and grow. We have some fantastic projects underway in the city.
Leicester is a major city in the East Midlands with strong transport connections to the rest of the UK and even Europe and the rest of the world. We’re just one hour from London by rail and with access to mainland Europe within 4 hours, the city’s central UK location allows your business immediate access to 22 million consumers.
Leicester is also home to several major companies’ head offices including:
- Bloor Homes,
- Barratt Developments,
- Walkers Crisps,
- Office Depot, and;
- Shoe Zone.
You can view a full list of 200 top businesses in Leicester by clicking here.
All in all, Leicester really is a fantastic place to start a business in 2019. There’s so much here for you. If you’re looking for somewhere to live or otherwise want to invest in the city, click here or contact us.