Despite the obvious challenges of the pandemic in 2020, this did not deter entrepreneurs as there were almost half a million new businesses registered
Despite the obvious challenges of the pandemic in 2020, this did not deter entrepreneurs as there were almost half a million new businesses registered over the course of the year. Manchester was the most popular place in the north for new businesses and third overall, which suggests that this is one of the best places for people looking to start a new business.
According to statistics from business card printing specialists instantprint, there were 468,371 new businesses formed in 2020 with over a quarter of these setting up in London (123,462). Unsurprisingly, Birmingham followed as the second-largest city in England with 11,185 new registrations and then Manchester in third with 9,684 new businesses. There are many great cities to start a new business in, but there are a few reasons why Manchester was the most popular place in the north and it bodes well for the future of the city.
Why Manchester is a Good Choice
In fact, a Financial Times report listed Manchester as the top city in all of Europe in terms of business-friendliness and 5th in the list of best performing cities. Manchester is also the spearhead of the Northern Powerhouse and somewhere that many businesses have relocated to in recent times. There are many reasons why Manchester is a good city for starting a new business, including low costs and rental prices (especially when compared to London), universities with a high graduate retention rates, being extremely well connected to the rest of the UK and Europe (it has its own airport) and an economy worth £62.8 billion (GVA).
Quality of Life
It is also important to consider that Manchester can offer a high quality of life, which is another reason why so many people have decided to open a business here. It is much more affordable than London and other cities down south, it is a fun, lively and vibrant place with lots of great culture and history and it is in the top 5 of the leafiest cities in the UK with lots of green space.
Many people find themselves continuing to WFH in 2021 and many companies plan to continue with this at least on a part-time basis. instantprint also carried out research on the best places to WFH in terms of factors like average property size and rent/price, average cost of living, average internet download speed and 4G signal strength. Manchester performed well here too, coming fourth behind only Belfast, Birmingham and Nottingham.
Manchester proved to be a popular place for entrepreneurs in 2020 with many new business registrations and things are certainly looking bright for the city in the coming years. Manchester is establishing itself as a key business city not just in the UK but also in Europe and somewhere that will appeal to business owners for a multitude of reasons.
The city also rivals London for those starting a career in fashion, with its growing army of big brands like Missguided, Boohoo and In the Style all based there. This growing post-university age demographic is making Manchester a desirable place to live and work in 2021 and beyond.