London has the UK’s weakest startup growth, with Nottingham, Bristol and Birmingham claiming the top spots for entrepreneurs
London may regularly be referred to as the UK's "engine room of growth" – but when it comes to startups, that couldn’t be more wrong.
The capital actually has the country’s weakest growth, according to Companies House data analysed by Instant Offices. Although the number of startups has increased 21 per cent in the past year, this is lower than any other part of the country.
Overall, the UK has had a 28 per cent growth in new businesses registered with Companies House.
Nottingham takes home the top spot, with the city’s fledgling entrepreneurs driving startup growth up by a whopping 68 per cent.
Bristol and Birmingham were also key areas – the number of new companies in both rose by around 40 per cent.
London may have landed the unflattering bottom spot, but startup growth in the capital varies wildly across different industries, as the booming tech sector is a key growth area, with startups in the technology services industry shooting up by 200 per cent over the time period, and wireless and telecommunications rising 70 per cent.
At the other end of the scale, there were actually slightly fewer new PR and IT consultants, compared to the year before.