15 Best Cities to Start a Business in the UK
As an entrepreneur who is looking for a city in the UK to start up a business, we have listed the 15 best cities to start up a business in the UK. These cities have a promising environment for new companies and also a relatively balanced cost of living. Below are 15 cities best for entrepreneurs to start a business in the UK.
1. Milton Keynes
Milton Keynes is a town with a strong and steadily growing economy which makes it a good place for entrepreneurs to start up their businesses and also a great way for small and medium-sized enterprises to excel. The town is home to many well-known companies in various industries, such as science, professional service, retail and technology. Among some of the companies in Milton Keynes are; Argos, Mercedes Benz, Domino Pizza and Suzuki.
With a total population of 229, 941, Milton Keynes has a good foundation for businesses who are looking for a place to establish themselves and grow. This town has a five-star startup survival rate of 41.91% which implies that almost half of the businesses that were established in the town managed to stay open for at least five years, which is a good sign for entrepreneurs.
For entrepreneurs who are considering the cost of living, the average monthly cost-of-living per household in Milton Keynes is about £880. Considering this as a factor, it is a good town for both employees and business owners who want to relocate or start a business in that area. The average weekly pay of a full-time worker is around £473, which is a decent wage for an employed person in the town.
The employment statistics, however, show that there are about 57,463 women that are working in Milton Keynes. However, there is a concern about the gender pay gap with women earning 18.5% less than males. Even with this difference, women are still active in the business community, with 31.8% of business owners being women. This shows a good and positive advancement towards gender diversity in entrepreneurship, although there is still room for improvement.
Milton Keynes is a good town for businesses to find many opportunities to thrive. It has a diverse economy, a presence of popular and big brands, and a supportive environment for both small and medium-sized businesses. Although the gender pay gap has become a minor issue, the participation of women in the business sector is a step in the right direction. In conclusion, Milton Keynes is an environment that provides an opportunity for businesses to grow and succeed.
2. London
London is one of the world's most popular cities, attracting lots of visitors every year. Due to the nature of the environment, London, which is the capital of the UK, ranks high as a good place for living and working. The city alone generates about 30% of the UK's GDP, making it an important place for both national and international finance. However, London isn't just about banking, it also has a good influence in the media, technology, and tourism sector, which makes the economy a diverse one.
With a total population of 7,556,900, London is a town filled with many opportunities. The total number of women employed in London is 1,771,202, which reflects the town's inclusive workforce. The gender pay gap also presents an issue because women earn 19.6% less on average compared to men in London. Despite this, women are still readily taking on leadership roles, with about 22.7% of London's business owners being females.
Starting a business in London can be both exciting and challenging. The city has a five-year start-up survival rate of about 39.35%, which explains that about 40% of new businesses in London manage to stay running for at least five years. Even though this is quite low that other cities and areas, the variety of opportunities available in London can be of great advantage to entrepreneurs who are willing to try businesses in a competitive environment.
However, the cost of living in London is quite high, with the average monthly rent per household being around £1,699. Entrepreneurs who want to move to the city for work or to start a business should consider the cost of living in the city. The average weekly pay for full-time workers is £545, which is higher compared to other parts of the UK, providing a balance in the standard of living.
London has a diverse economy, which excels in sectors such as finance, media, technology and tourism. The city also has many multinational companies, startups and small businesses, making it a good area for ideas and innovations. Even with the gender gap in pay being an issue, the presence of a good number of female business owners is a good sign of progress.
In summary, London is a city full of opportunities, offering a good environment for businesses and individuals. The high cost of living is balanced by the high earnings in the city, which makes it a great environment to start a new business or work.
3. Swansea
Swansea is a city with the service sector notably dominant and nearly 90% of the city's workforce is employed in the education, health, public administration, or finance sector. The high concentration of service sector jobs in Swansea talks mode whether the city is a good environment for these industries. One of the key institutions in this city is the DVLA headquarters, which adds to the city's significance in the public administration sector. Also, Swansea is home to many technology and communication companies, creating a diverse economy.
The population of the city is 300,352, with 45724 women of the city actively employed. This implies that there is a significant population of females in the city's workforce. One most encouraging factor of Swansea is the relatively low gender pay gap, which is about 8.7%, making it a good learning environment for females compared to other areas. Women are actively taking less entrepreneurship in the city with 34% of business owners being female.
Even though starting a business in Swansea has some challenges, there are also some rewards. The average five-year start-up survival rate is 38.79%, which entails that less than half of businesses strive through the first five years. This survival rate is for entrepreneurs who live establishing businesses in a competitive yet promising environment.
With an affordable cost of living compared to other cities in the UK, Swansea becomes a good place for entrepreneurs to relocate to and work or start a business. The average monthly rent per household in Swansea is about £607 which makes it an affordable choice for entrepreneurs. The average weekly pay for full-time workers is around £375, while lower than some areas in the UK, it strikes a balance between the cost of living and average pay, allowing residents of the town to maintain a comfortable and affordable lifestyle.
The economy is however enriched by the success in its technology and communication sectors. These industries are responsible for the innovation and modernity of the city and also provide employment opportunities for residents of the city thereby promoting growth. The presence of these sectors in the city alongside the strong service industry base, makes Swansea's economy a diverse one.
In summary, Swansea offers an environment that supports affordability, job opportunities, and businesses. The city also has a front service sector with a good growing technology and communication industries, providing a foundation for economic stability and growth. The low gender pay gap in Swansea and the high number of female business owners imply that the city has a progressive stance on workplace equality and entrepreneurship.
4. Sheffield
Sheffield City has successfully transitioned from their historical roots in the steel industry and has become one of the top cities in the UK for startups. The transformation of the city speaks more of the city's ability to adapt to new technological and economic changes and growth. Today, Sheffield has become the key destination for people seeking employment in the sports and public sectors and the city is also recognised for its advances in manufacturing technology.
The population of the city is about 685,368 with about 107,718 women actively participating in the workforce. The high female employment and also the low gender pay gap, which is about 12.7%, reflect the city's progression in maintaining employment equality. Also, women in Sheffield are making great efforts in entrepreneurship with about 29.9% of business owners being female, making it a comfortable and supportive environment for female entrepreneurs.
The five-year start-up survival rate in Sheffield is around 42.66% which is relatively high compared to other cities of the UK. This statistic implies that nearly half of the businesses started in Sheffield city to manage and sustain themselves for the first five years of business. This data shows the city's supportive environment to businesses both new and old.
One good thing about Sheffield is the relatively low cost of living with the average monthly rent per household at about £587. The affordable environment attracts both individuals and families who want to settle in the city. The average weekly pay for full-time workers is £373, though the wage is quite lower than in some larger cities, the low cost of living balances the wages and allows the resident to live a comfortable lifestyle.
Sheffield's economy is boosted by their presence in advanced manufacturing technologies. This sector preserves the city's historical ties to manufacturing and also drives innovation and modern development. Also, the sports and public sectors provide employment opportunities, contributing to the city's diverse economy and stability.
In summary, Sheffield is an affordable city with job opportunities and a good environment that supports start-ups. The city's transition from a steel industry hub to a modern economic centre shows its adaptability to the modern era. The low cost of living with the great potential for startup survival rates makes the city an attractive choice of destination for workers and entrepreneurs who want to start a business.
5. Leeds
Leeds city has one of the most diverse economies in the UK, which makes it an attractive location for both businesses and workers. It stands as one of the country's largest centres for legal and financial services, which provides a foundation for its economic stability. Apart from the financial and legal sectors, Leeds has also gone into the engineering, medical technology, and the food and drink industry. In recent times, the city has had significant growth in the digital and creative industries, giving it a dynamic and diverse economy.
With a population of 455,123, Leeds is a city full of opportunities. The city also has a diverse workforce, with 158,591 women employed across the sector of the economy. However, just like most UK cities, Leeds also has a gender pay gap with women earning 12.7% less than men. Despite this gap, women in significant numbers are going into businesses in Leeds with 28.4% of business owners being female. This entails environment support for business entrepreneurs and progress made towards gender equality in business.
Leeds is a good city for startups with a five-year survival rate of 42.88% which means that almost half of the businesses established in Leeds survive up to the first five years, proving the economy's welcoming environment for businesses. For entrepreneurs who want to start a business, the statistics of this city are encouraging and show a potential for success.
The cost of living in Leeds is relatively moderate, with the average monthly rent per household at about £654. The affordability in the city is a key factor for those considering moving or starting a business in the city. For full-time workers in Leeds, the average weekly pay is about £389. Although this is lower compared to some other larger cities, there is a balance between the cost of living and the wages, making sure the residents live a comfortable lifestyle.
The economic diversity of Leeds is one of its greatest strengths. Also, the presence of traditional industries such as engineering and chemicals, alongside the growing influence of digital and creative sectors on the economy, strikes a balance. This diversity not only provides lots of job opportunities but also contributes to innovation and development within the city.
Overall, Leeds is a city that offers affordability, opportunity and growth. The diverse economy supports a wide range of industries, ranging from finance and legal services to engineering and digital technologies. The significant presence of females in the workforce and business ownership is also a sign of positive progress of the economy towards gender equality. For entrepreneurs who want to start a business or for people who want to find employment and at the same time enjoy a balanced cost of living, Leeds is a good environment.
6. Reading
Reading is a famous city for its annual music festival, which has been a highlight since it started in 1971. The town is also home to a diverse range of British and international multinational companies, which makes it a good location for economic activities. A significant feature of reading is its tech companies. Popular firms like Microsoft, Symantec and Huawei have established strong markets in that area which contributed to Reading's reputation as a tech hotspot.
With a population of 318,014, Reading has about 34,119 women who are actively employed across various sectors of the economy. However, there is a notable gender pay gap, with women earning an average of 18.5% less than they make. Despite this gender pay gap, women are still actively participating in businesses, with about 33.4% of business owners in Reading being female. This shows that reading has a supportive environment for female entrepreneurs and encourages growth and innovation.
For new businesses, Reading offers a comfortable environment with a five-year start-up survival rate of 0.65% which is relatively higher than other cities in the UK. The statistics imply that close to half of all the businesses established in Reading survive in the first five years. This shows that the economic foundation of the city favours entrepreneurs and also provides opportunities for them.
Compared to other cities in the UK, the cost of living in reading is relatively low, with an average monthly rent per household at about £873. The affordable environment is a key consideration for individuals and families who want to relocate and settle in the area. For full-time workers, the average weekly pay is about £460, which, although competitive, strikes a balance between the cost of living to promote a comfortable lifestyle for the residents of the city.
Reading's economy is strengthened by the presence of both local and international companies. The presence of tech companies alongside other industries creates a diverse economy for the city and also provides employment and encourages innovation and development in the city.
In summary, reading offers an affordable environment with no opportunities and a supportive environment for businesses. The town's reputation as a tech hub alongside its diverse economy makes it an attractive location for both entrepreneurs and workers.
7. Stoke-on-Trent
Stoke-on-Trent, a city known for its ceramics industry, is still attracting tourists who visit the various pottery factories scattered across the city. These historic sites are a major factor in keeping the city's rich heritage alive. Today, Stoke-on-Trent gas evolved and is now home to 9000 businesses, including popular companies like bet365. The city is also recognised as the best in the UK for female-led startups, proving it's a supportive environment for female entrepreneurs.
With a population of about 372,775, 46,933 women are actively employed across various sectors. With a gender pay gap of about women earning 14.6% average less than men, there is still a remarkable presence of women in the business world. With 35.7% of businesses being owned by females, it reflects the city's commitment to enhancing gender equality and supporting female entrepreneurship.
Stoke-on-Trent offers a favourable environment for new businesses, with a five-year startup survival rate of 38.51%. This means that nearly half of the businesses established in the city have been able to manage and survive beyond the first five years, showing how supportive the city is to new businesses. The economy also provides entrepreneurs with the opportunity to grow and succeed.
The cost of living in the city is low, with the average monthly rent per household being £413. The affordable environment is a key consideration for those who want to move to the city. The average weekly pay for full-time workers is £364. Although this might be relatively low compared to some other regions, the low dust of living strikes a balance with the low wages to ensure residents maintain a comfortable lifestyle.
The economy benefits from its mix of local and international businesses. The presence of major businesses like bet365, coupled with other numerous small and medium-sized businesses, creates a dynamic and diverse economic environment. The diversity of the economy provides a wide range of employment opportunities for people who want to work in the city and also an environment that supports innovation and the growth of startups.
In summary, Stoke-on-Trent offers an affordable environment, lots of job opportunities across various economic sectors, and a supportive and conducive environment for businesses to grow and succeed. The city's rich ceramic heritage, accompanied by other modern businesses, offers a unique and diverse economic setting. The significant percentage of female business owners also shows the city as an environment for supporting female entrepreneurs.
8. Derby
Derby is a city that is widely recognised as a hub for advanced transport manufacturing, housing popular transport companies like Toyota and Rolls Royce, the world's second-largest aerospace manufacturer. These notable industries contribute greatly to the city's economy and global reputation in automotive and aerospace technology. Derby also made a significant contribution to rail technology, enhancing its status as a leader in advanced transportation manufacturing.
With a population of 270,468, Derby has a workforce of 49,863 women employed actively across various sectors. The diverse employment shows the city's industrial base and commitment to providing equal opportunities for all residents. The city, however, has a relatively higher gender pay gap compared with some other regions with women earning 22.7% less than men. Despite the gender pay gap, there is a significant presence of female entrepreneurs with 32.5% of businesses in Derby owned by women.
Derby with a five-year startup survival rate of 41.07% offers a good environment for new businesses, proving that nearly half of the businesses established in Derby are managed and survive in the first five years of establishment and beyond.
The cost of living in Derby is relatively moderate compared with other regions, with the average monthly rent per household at £506. The affordable environment attracts individuals and families who want to relocate to an environment of a balanced lifestyle to Derby. The average weekly pay for full-time workers in Derby is £429, providing a competitive wage that supports the city's economy.
Derby's diverse industrial economic base encompassed advanced manufacturing, technology, and innovation in the city. The presence of global leaders in the transport industry like Toyota and Rolls Royce, alongside a history of technological innovations such as the Tomb Raider's development by Core Design, shows Derby's dynamic and forward-thinking spirit.
In summary, Derby has an economy that encompasses industrial strength, innovation, and a supportive business environment. The city's role in advanced transport manufacturing, alongside efforts made to enhance entrepreneurship and address economic challenges, positions Derby as a good and promising destination for businesses and employment opportunities. The high percentage of female business owners also shows the city's supportive environment for female entrepreneurs.
9. Coventry
Coventry's economy has long been fuelled by the automotive sector but in recent years, the city has diversified its economic base. The city now offers contributions to various industries, including industries like finance, research, leisure, logistics and even the creative sector. The economic diversification has helped Coventry stay relevant and is able to adapt to the rapidly evolving economic conditions.
The total population of Coventry is 359,262, with about 60,492 women actively participating in the city's workforce. The significant number of women in the workforce showcases the city's commitment to providing equal employment opportunities to its residents. With a relatively low gender pay gap of women earning 14.6% average less than men, the city shows a positive environment for the female workforce.
Despite the gender pay gap, women in Coventry are making waves in entrepreneurship with about 29.2% of businesses in Coventry owned by females making the city a supportive environment for female entrepreneurs.
Coventry provides a supportive and promising environment for businesses with a five-year startup survival rate of 40.60% showcasing that a good amount (nearly half) of businesses established in Coventry manage to sustain themselves and survive within the first years. Entrepreneurs in Coventry benefit from the strong supportive environment and presence of numerous opportunities across various sectors.
With a relatively moderate cost of living, the average monthly rent per household is at £660. The city's affordable environment offers an attractive option for individuals and families who want to balance their cost of living and their earnings. The average weekly wage for full-time workers is £395 which is relatively low compared to some larger cities, but the low cost of living strikes a balance with the low wages and allows residents to live comfortably.
Coventry's economy is enriched by the city's contribution to several sectors. The city has a great history in the automotive industry, which gives it a solid foundation. The city also influences sectors like finance, research, leisure, logistics and the creative industry. The varieties of industry create lots of employment opportunities for residents of Coventry, encourage innovation and growth within the city and also help in diversifying the economy.
Overall, Coventry's city offers an affordable environment, lots of job opportunities and a supportive environment for businesses. The city's ability to evolve beyond its automotive history and make contributions to various sectors is proof of its ability to adapt and go in line with any economic approach. Also, the high percentage of female business owners and ongoing efforts to address the gender gap pay offer a positive environment for female entrepreneurs and employees.
10. Hull
Hull is a city that stands out as one of the most significant ports for both goods and passenger traffic in the UK, playing an important role in the nation's trade and transport networks. Aside from its maritime importance, the city also serves as a home for energy and communications, contributing to the economic vitality and regional influence.
Hull has also taken part in environmental sustainability with the establishment of a £2pp million worth of waste-to-energy plant. This facility utilised advanced technologies to convert waste into electricity, showcasing the city's commitment to innovative solutions for managing environmental changes.
The city's total population is at 314,018, with 49,390 women actively employed in the workforce across various sectors of the economy. The diverse workforce shows the city's inclusive employment practices and opportunities for women in the economy. Compared to some other cities, Hull has a relatively low gender pay gap, with women earning 12.7% less than men. There is also a significant presence of women in entrepreneurship, with about 32.6% of businesses in Hull owned by women.
Hull offers a supportive and promising environment for new businesses, with a five-year start-up survival rate of 38.76%, proving that the city has an economy that supports start-ups and many startups manage and thrive over the initial years. Entrepreneurs in Hull benefit from access to resources and networks that assist business growth and development.
With a relatively affordable cost of living, the average monthly rent per household is at £497, providing an affordable environment and lifestyle for residents. Full-time workers in Hull earn an average weekly pay of £347, supporting the economic stability and providing residents with competitive wages.
Hull's economy dwells on its strategic location and diverse economic sectors, including maritime trade, energy, communication, and environmental technology. These industries provide employment opportunities to residents and also position Hull as an innovative city and technologically advanced city.
In summary, Hull represents a mix of economic opportunities, environment preservation and significant community. It has a major role as a poet and a home for energy and communications contributing massively to the UK's economy. The city also has great support for female entrepreneurs.
11. Bristol
Bristol has undergone a remarkable transformation from its history and origin as a poet city to one of the UK's most prosperous economic centres. This transformation is largely attributed to the presence of large industries such as information technology, financial services, tourism, arts, and sports. The city's evolution into a science city in 2005 also contributed to its reputation for innovation and advancements. Bristol's recognition as the fifth-best city to start a business in 2019 talks more about its supportive environment for entrepreneurship.
With a population of 617, 280, Bristol sustains a diverse workforce, with 92604 women employed actively across various sectors of the economy. This demographic diversity shows Bristol's commitment to inclusive employment practices and opportunities for women in its economy. Despite the presence of these opportunities, Bristol still has a gender pay gap with women earning 17.1% average less than men. The city also has a significant percentage of women in entrepreneurship, with about 24.5% of businesses owned by women.
The city also provides a favourable environment for new businesses with a five-year start-up survival rate of 44.36% which is relatively higher than some regions. Emphasising the city's ability to provide a supportive and promising environment for startups. Entrepreneurs in Bristol benefit from the supportive environment, resources and opportunities the city provides to maintain business growth and sustainability.
However, the gist of living is relatively higher, with an average monthly rent per household at £887. The average weekly pay for full-time workers is £432. The wage, however, supports economic stability and provides the residents with financial security.
The city's economy dwells on its diverse economic base and commitment to innovation. Industries such as IT, finance, tourism and creative sectors contribute greatly to the city's economic growth and cultural diversity. The establishment of Paymentsemse's new office in Bristol in 2020 further enhances the city's status as a home for business and innovation.
In summary, Bristol offers an attractive dynamic economy, cultural richness and an environment that supports growth and innovation. Its evolution from a historic port city to a modern economic powerhouse emphasises the city's ability to adapt to modern changes. The city's statistics also show its support for female entrepreneurs.
12. Manchester
Manchester city holds the reputation as the world's first industrialised city, a title earned during the city's peak of textile manufacturing. Since then, the city has maintained its reputation and evolved into one of England's most popular urban centres, with a vibrant economy encouraged by diverse economic sectors such as creative industries, science, engineering, music, art and sport. Manchester's historical legacy as an industry pioneer continues to shape its modern identity as a home of innovation and cultural dynamism.
With a population of 305,515, Manchester has a workforce that includes 88,99 women actively employed across various sectors of the economy. The demographic diversity shows Manchester's commitment to inclusive employment practices and opportunities for women within the economy. With a relatively low gender pay gap with women earning 11.4% less than men, Manchester has a significant number of women in entrepreneurship with 24% of businesses owned by women.
Manchester offers a favourable and conducive environment for entrepreneurial ventures, with a five-year startup survival rate of 37.52, implying a supportive business environment for entrepreneurs. Entrepreneurs in Manchester benefit from the diverse economy which provides various opportunities for entrepreneurs for business growth and sustainability and also for people who want to work in Manchester.
The cost of living is relatively high compared to some other regions, with the average monthly rent per household at £669. The average weekly pay for full-time workers is £468, ensuring financial security for residents of Manchester city.
The economy dwells on the diverse industrial base and Aldi's contributions to sectors like creative industries, science, engineering, and culture. These sectors provide local employment and also support the economic stability and the global reputation of Manchester as the centre of creativity and innovation.
In summary, Manchester city offers a blend of historical significance, diverse economy and cultural richness. The evolution of the city from an industrial powerhouse to a modern metropolis outlines the city's ability to adapt to modern changes. The city also provides an environment that supports business growth and development, with a significant ratio of female entrepreneurs showing the city's support for women who are into entrepreneurship.
13. Bradford
Bradford, a city once known for its thriving textile industry, has successfully evolved to a more diverse economic base. While the textile industry has been enhanced, the city has also established a strong presence in sectors such as finance, chemicals, engineering, and manufacturing. Today, Bradford has a good economy valued at nearly £9.5 billion, showcasing the city's ability to adapt to industrial changes.
With a total population of 299,310, the city has a significant number of 94,462 women actively working in the workforce across various sectors. The city has a gender pay gap of 12.7% indicating that women on average earn less than men in the city. Despite the gender pay gap, a significant ratio of businesses in the city (22.9%) is owned by women, showcasing the city's support for women in business and promoting entrepreneurial gender equality.
The city offers a favourable environment for new businesses with a five-year start-up survival rate of 42%, implying that almost half of the businesses established in Bradford strive through the initial years. Entrepreneurs in Bradford have access to resources, networks and opportunities that engines business growth and sustainability.
Bradford offers a relatively affordable environment, with the average monthly rent per household being £450. The lower cost of living is balanced by the average weekly pay of £367 for full-time workers offering financial stability.
Bradford's economy dwells on its diverse industrial base with significant contributions from finance, chemicals, engineering and manufacturing sectors. These industries encourage local employment and also contribute to the city's economic growth and development.
In summary, Bradford City represents a blend of historical significance and modern economic diversity. The city's transition from a textile powerhouse to a hike for finance, chemicals, engineering and manufacturing stands on its ability to adapt to industrial changes. With a significant number of female entrepreneurs, it shows the city's support for women in entrepreneurship.
14. Southampton
Southampton is a city best known for its significant contributions to the health and education sector. Over a quarter of jobs in the city are found in the health and educational sectors, making Southampton a significant player in providing essential health services and educational opportunities. This diverse job market outlined the city's significance as a centre for both healthcare and learning.
In addition to the city's presence in the health and education sectors, the city is also home to property, wholesale and retail businesses. The city's diverse economy provides various job opportunities for UES residents, contributing to the city's overall growth and economic stability.
With a total population of 246,201, Southampton has 47,531 women actively employed across various sectors of the economy. Reflecting the city's inclusive market, the city has a relatively high gender pay gap of 18.5%, implying that women, on average, earn less than males. Despite the gender pay gap, women in Southampton are making an impact in the business world, with 31% of businesses in Southampton owned by women.
The city provides a healthy business environment with a five-year startup survival rate of 39.29% demonstrating that many new businesses can sustain themselves beyond the early years. With a supportive environment, entrepreneurs can benefit and help in growing their businesses to success.
With a relatively high cost of living, the average monthly rent per household at Southampton is £815 and the average weekly pay for full-time workers is £397, ensuring financial stability and security for the city's residents.
In summary, the city is known for its strong presence in the health and education sectors and property, wholesale and resale industries. The city also has a supportive environment for new businesses and a diverse economy which serves as an avenue for providing its residents with varieties of opportunities.
15. Glasgow
Glasgow, the largest economy in Scotland, has become a known home to various industries, including biosciences, healthcare, communications, finance, creative industries and retail. The diverse economic base of the city has contributed to growing and sustaining the job market by providing various opportunities for residents.
Tourism has a significance in Glasgow's economy, contributing over £300 million annually. The city attracts both Scottish and international visitors with its rich cultural heritage, museums, art galleries, music festivals, and historic sites. Tourism boosts the local economy and also positions Glasgow as an international destination for tourists. The tourism sector for the city's ability to utilise its cultural assets effectively.
With a total population of 591,629, Glasgow has a population of 118,950 women actively employed in the workforce, reflecting the city's commitment to providing diverse employment opportunities. However, the city has a relatively high gender pay gap of 22.1%, implying that women receive an average lesser payment than men. Despite the gender pay gap, 28.3% of businesses in Glasgow are owned by women.
The city has a positive environment for new businesses with a five-year start-up survival rate of 37.46%, indicating that many businesses in Glasgow manage to overcome early challenges and establish themselves in the market.
The cost of living in Glasgow is relatively affordable, with the average monthly rent for a one-bedroom city centre apartment is £626, making it a cost-effective option for young professionals and families. The average weekly pay for full-time workers is £433, striking a balance with the cost of living, which supports a comfortable lifestyle for its residents.
The city's presence in biosciences and healthcare positions it as a leader in these fields which significantly contributed to the city's advancements, which enhanced the city's economy. The finance and communication sectors further boost the city's economic stability, providing essential services for further growth.
Overall, Glasgow stands out as a major economic powerhouse in Scotland, with a variety of industries, a good tourism sector and a supportive environment for entrepreneurs. The relatively affordable cost of living, diverse job market and cultural richness make it an attractive location for both residents and visitors.
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Conclusion
As an individual or family looking for a city in the UK to start a business or work in, the above-mentioned cities are a few out of the rest you can try out. Before settling for any particular city, you can do more research on the city and align it with your goals and interests.