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Leeds is the Best English City for Start-ups Outside of London

July 25, 2022

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Article Summary

Leeds
  • It found that outside of London, Leeds was the best place in all of England to start a new business.

  • This is the second time this study has been conducted. The first was in 2019 when Leeds came in fourth place.

  • It isn’t just new businesses that are decided to make such Leeds investments; the city is also a major hub for more establish companies such as Channel 4 and Sky.

A new study has named Leeds the best city in England for startups outside of London, and the second best in the entire UK. With Leeds already a major destination for property investments, the report shows how Leeds investments into new businesses are also helping the city thrive.

 

Best in England

The report, which was carried out by business finance experts at the independent price comparison website NerdWallet, used government and business data to generate their findings. It found that outside of London, Leeds was the best place in all of England to start a new business.

It came second in the whole of the UK (outside of London), with only Edinburgh beating it.

 

From fourth to second place

This is the second time this study has been conducted. The first was in 2019 when Leeds came in fourth place. The city’s rise shows how Leeds continues to be an excellent place to create new business, helping boost the local economy.

To compile its rankings, NerdWallet looked at how friendly a city was to startups overall. The factors used to understand this included its overall population; the number of working age people; their education level; average monthly pay for employees and average rental costs.

New business survival rates and active business population were also considered, with Leeds having the fourth and second highest respective scores out of twenty cities.

Coming behind Leeds in the overall rankings were Glasgow, Bristol and Birmingham

 

A city of business

Leeds has continued to prove itself as a great place for business. It isn’t just new businesses that are decided to make such Leeds investments; the city is also a major hub for more establish companies such as Channel 4 and Sky.

Recent findings have shown that the large number of businesses setting up in Leeds is increasing profitability from property investments too. These companies bring sought-after jobs with them, driving demand from people moving to Leeds for these jobs, which further drives up rental yields and capital growth.

 

What is property investment?

Put simply, property investment is property purchased with the intention of generating financial returns for its buyer. These returns could be in the form of rental income through buy-to-let properties, house price growth through the future sale of the property or both. Property investments can be owned by individuals or organisations and can be short, long or medium term.

 

Get in touch

If you’re interested in buying an investment property in Leeds or investing in property anywhere else in the Leeds region and beyond, contact the experts at North Property Group to find out how.

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