Research by Barclays has revealed that Bradford is the best place in the country to start a new business.
The bank’s SME Growth Factors Index uses 12 measures to determine the best conditions for businesses to thrive, with Bradford taking first place in four of them, so coming out top overall. The district offers the best business rate relief, value for money in commercial space rent, number of job vacancies and road infrastructure.
Barclays compared the UK’s 20 largest cities, with data collected on growth factors such as broadband speed, number of skilled workers and business survival rates. The report underlines what the Chamber and others have been saying for a long time – that there is massive potential for business success in the district.
Nick Garthwaite, president of Bradford Commerce, said: “This is great news for Bradford and reflects the hard work of organisations across the district who provide advice and guidance to those looking to start and grow businesses in the area. The city council also has also played an important role providing business rates relief and listening to the business voice. Indeed, the chamber is currently working with the council on the production of the city’s ‘Inclusive Growth Strategy’ which sets out ambitious plans to create the environment for even more businesses to locate, grow and scale up.”
Caroline Pullich, head of SME for Yorkshire at Barclays Business Banking, added: “It’s really encouraging to see that so many areas offering growth potential are outside of London and the south east, particularly with Bradford ranking as the top city across the UK. We undertook this study because we support small companies right across the country, and are keen to help more people start and grow businesses wherever opportunities exist. We’re committed to investing in Bradford’s SMEs and entrepreneurs, evidenced through our recent ‘Invest in Bradford’ business round table events with local key business people. Entrepreneurs do need to consider the market for their particular company but an environment that supports growth can make a real difference.”
Read more on Barclays website here.