Wakefield named in top 20 UK cities or towns if you want your business to succeed, according to new data
A new study by Shootday has revealed exactly that. Looking at the data behind business formation and sustainability across the UK, the study determines the places where entrepreneurs have the best shot at long-term success.
To get to the bottom of this, the study examined data from the Office for National Statistics (ONS), focusing on 50 cities and towns across the country. The study looked at three crucial factors: business birth rates (how many new businesses are springing up), business death rates (how many are closing), and five-year survival rates (how many stick around after the early challenges).
Each of these metrics was individually normalised and indexed from 0 to 100, allowing cities of all shapes and sizes to be compared on a level playing field. To reflect how important staying power is in the business world, survival rates were given the most weight at 50%, while both births and deaths were weighted at 25% each.
Wakefield claims 20th place in the rankings with a total score of 60.05, showing that this West Yorkshire city is holding its own in the business world. With a five-year survival rate of 92% (joint 19th), it’s clear that many local ventures are built to last. The city saw 1,255 new business births (20th overall), closely matched by 1,215 business deaths (32nd), suggesting a bustling and competitive environment. Wakefield might not be grabbing national headlines, but it’s quietly proving to be a fertile ground for those ready to roll up their sleeves and get stuck in.
Meanwhile, topping the list with a total score of 74.75, Lincoln impressed with 2,575 new business births (5th), the second-lowest number of closures (310), and a solid five-year survival rate of 93% (14th). Coming in second is Blackburn with Darwen, where businesses enjoy a remarkable 94.5% survival rate, the second highest in the country, earning the town a total score of 72.26. Solihull lands in third place (70.84), posting a 94% survival rate (4th), 1,090 business births (23rd), and 880 deaths (19th). Basildon follows in fourth (70.19), mirroring Solihull’s survival rate while reporting 960 new businesses (27th) and 900 closures (22nd). Chelmsford rounds out the top five with a score of 70.09, combining a 94.3% survival rate (3rd) with 540 business births (44th) and 855 deaths (18th).
In sixth place is Salford, a dynamic city that recorded 1,510 business births (12th) and 1,465 deaths (38th), supported by a 94% survival rate (4th) and an overall score of 70.03. Darlington takes seventh (69.99), standing out for its low number of closures at just 460 (6th), and a 94% survival rate (4th), despite only 455 business births (47th). York follows in eighth (69.40), with 700 new businesses (38th), 715 deaths (12th), and a 93.9% survival rate (8th). Middlesbrough ranks ninth (69.18), posting 620 births (40th), 575 deaths (8th), and a 93.8% survival rate (9th). Finally, Bury takes tenth spot (69.01), with 615 business births (41st), 610 closures (9th), and a matching 93.8% survival rate (9th).
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