Bristol has been named as the UK’s second most attractive city to launch a new business in 2025, according to new research.
Finance broker Approved Finance Group analysed the country’s 60 largest cities to find out how they fared when it came to providing the bedrock for a successful business.
It examined a wide range of data points, including the average price of commercial property in each location along with their GDP, education levels, high-speed internet coverage and average salary.
It also looked at the number of start-ups in recent years and the number of business failures.
Bristol, which came second to Oxford, had an average sq ft cost of commercial spaces of £57.
Almost 90% of businesses in the city are currently supplied with high-speed internet, beating out most other places across the country.
Oxford offers commercial space for an average of £36 per sq ft, making it one of the most affordable commercial options, per sq ft, across the UK.
Approved Finance Group commercial director Mark Kozo, said with inflation and the cost of goods, energy and materials continuing to rise, and commercial property prices also on the up, prospective business owners had to think carefully about when and where to plant their flag.
“Starting a business in 2025 will be incredibly daunting, with inflation still a major concern for business owners and commercial property prices at historic highs,” he added.
“The cities we’ve identified, such as Oxford and Bristol, offer great potential for growth, but business owners must always consider their specific needs and resources before making a decision.”
