Cardiff has the best rate in the UK between business births and deaths

Cardiff has the best rate in the UK between business births and deaths.

New research, conducted by the School of Marketing, shows Cardiff had 72% more businesses opening than those closing in 2021 at 3,460 compared to 2,010.

This meant that for every 10 businesses that died, roughly 17 new ones started up.

The financial and business sector is the largest employer with 20% of the city’s workforce employed in this field.

Bridgend is ranked ninth in the UK , having experienced 870 business births in 2021 compared to 630 deaths – a 38% positive difference.

Mansfield in Nottinghamshire came second with 64% and Wolverhampton third with a 50% difference.

The study, using ONS data, also found that business openings across the UK were 4% higher than pre-pandemic numbers with 401,815 companies being started in 2021 compared to 386,200 in 2019.

In terms of closures, 420,135 businesses died in 2021 in the UK – almost 5% higher than the number of new openings in the same year.

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A School of Marketing spokesperson said: “With many prospective business owners holding out to begin their companies with the uncertainty of the COVID-19 pandemic, this list not only shows the best regions to do so but also highlights how in many areas the economy is starting to flourish again.

“It’s interesting to see the diversity of the regions in the top ten, with Welsh areas, northern regions and London boroughs all performing well for new businesses.”

The best UK regions to start a business

Rank

Region

2021 Business Births

2021 Business Deaths

Births/Deaths % Difference

Number of new businesses born, for every 10 that died

1

Cardiff

3,460

2,010

72.14%

17.21

2

Mansfield

625

380

64.47%

16.45

3

Wolverhampton

1,780

1,180

50.85%

15.08

4

Sandwell

2,140

1,460

46.58%

14.66

5

Ipswich

925

635

45.67%

14.57

6

Hull

1,345

925

45.41%

14.54

7

Broxtowe

580

410

41.46%

14.15

8

Darlington

590

425

38.82%

13.88

9

Bridgend

870

630

38.10%

13.81

10

Newham

3,570

2,625

36.00%

13.60

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