Luton's the best place to be for budding entrepreneurs
Survey puts town at the top for setting up a new business
If you want to start your own business, Luton is the place to be.
Research completed by Fasthosts shows the top cities in the UK for start-up businesses by looking into a large variety of regional metrics from business survival rates to the cost of office space.
And Luton is the UK’s top place to start a business right now..
The town was crowned as the best-all round UK location to start a new business with an overall index score of 3.375 - proved to have one the best rates of production, office prices, and business survival rates out of any other UK city.
The Bedfordshire town ranks marginally higher than fellow southern start-up hotspot Reading (3.312), which can only claim second spot.
The survey showed 1,455 businesses have set up in the town in the past five years with 410 still going. Most of the top 15 towns had higher start ups but a far higher 'death rate' for businesses in the same period.
The town was also highly ranked for its average internet speed and the cost of rental premises.
Michelle Stark, Sales and Marketing Director at Fasthosts said: “Even in a vastly increasing digital world, choosing the right city to launch a business is an important decision. It’s important to be strategic when deciding in your business location and we urge all start-ups to check out our rankings before choosing their desired location for business.”
Luton Bid was thrilled with the news, they tweeted: "Luton has been ranked as the top place for business start ups! Our town has been crowned as the best-all round UK location to start a new business, proven to have one the best rates of production, office prices, and business survival rates in 2021."
Fasthosts has been a leading technology provider since 1999, offering secure UK data centres, 24/7 support and a highly successful reseller channel.
See the results in full here