In a report released yesterday looking into the strength’s and successes of businesses across the country, Brighton was named as the UK’s ‘Start Up Capital’, as well as being described as being on it’s way to becoming “the UK’s hub for entrepreneurial activity.”
The city was among five other listed as ‘Business Capitals’ in the report, which was carried out by Lloyds Bank National Business Awards. Amongst these other capitals were cities such as Plymouth and Cardiff, who were awarded ‘Digital Capital’ and ‘Talent Capital’ respectively.
New businesses in Brighton have an amazing 87% rate of success
The figures surrounding Brighton’s start up companies are undeniably impressive: new businesses in the area have an amazing 87% rate of success, primarily due to the strong startup support networks that are available. We’re also able to proudly call ourselves the city with the third fastest growing rate for businesses, only beaten to the top spot by London and Bristol.
We also boast the highest percentage of small and medium sized businesses in relation to the size of the city, when compared to the rest of the UK. The prominence of the amount of smaller companies within the city is evident in the fact that the average Brighton company only has a pretty tiny seven employees.
The study also delved into what made businesses successful and found that for many, proximity to the capital was a huge factor, which is clearly something that businesses in Brighton have playing in their favour. The city stands at the top of the list of best connected, with an impressive 54% of businesses feeling that they’re well connected, and benefitted by their proximity to London, in comparison to a small 36% nationwide.
Entries for the Lloyds Bank National Business Awards are open now, see website for more information.