STIRLING has been named Scotland’s number one place to start a business and given eighth billing UK-wide in a new study examining the entrepreneurial potential of Britain’s cities, writes Scott Reid.
Edinburgh and Glasgow were found to trail behind due to the high cost of living, while Inverness was ranked in bottom spot in Scotland. Aberdeen finished second-to-last due to slow broadband and “sky-high” rents, according to researchers.
Stirling’s “low cost of living, excellent travel links and highly-educated workforce” all helped the city to outshine its larger Central Belt neighbours.
It was also ranked highly because it boasts some of Scotland’s cheapest commercial property prices and “low-cost virtual office solutions”.
The city finished eighth out of all of the 69 cities examined by Quality Formations, a London-based company formation specialist, placing it ahead of the likes of London, Manchester and Birmingham.
Rebecca Honnan, customer service manager at Quality Formations, said: “When it comes to setting up a new business, far too many aspiring entrepreneurs can’t seem to look past cities like London or Glasgow – and although these big cities are fantastic, they don’t always have the best climate to help foster young start-ups.
“Costly overheads, slow broadband and overpriced childcare have the ability to kill even the most promising of startups.”
Across the UK as a whole, Derby claimed the top spot, followed by Stoke-on-Trent and Belfast.
The two-week “scientific study” examined core criteria including property costs, energy prices, public transport, broadband provision, workforce demographics, access to start-up finance and quality of life.