According to a new study released by commercial law specialists Tend Legal, Manchester is among the areas with the highest number of business births. The study compared the number of business births with the number of business deaths over a five-year period across 359 local authorities, also named Camden and Hackney in the top three.
In the UK, the emergence of new businesses serves as a critical indicator of economic health. Business births reflect entrepreneurial confidence, access to capital, and a certain optimism about the future. According to The New Startup Index, published by NatWest and Beauhurst, over 900,000 new companies were incorporated in the UK in 2023, representing a record year for new businesses.
According to the most recent data released by the ONS, there have been 28,045 business births and 20,835 business deaths in Manchester in the five-year period between 2017 and 2022.
Alistair Wells, business expert and owner of Tend Legal, had this to say about Manchester:
“Greater Manchester is a thriving hub for businesses, thanks to its strategic location, diverse economy and skilled workforce. The city boasts excellent transport links and a diverse economy, with strengths in digital industries, advanced manufacturing, life sciences and financial services. Manchester is also home to leading research institutions and universities which are ideal for providing a skilled workforce.
“Greater Manchester’s lower cost of living compared to London, along with its vibrant cultural scene and high quality of life, makes it an extremely attractive destination for both professionals and businesses.
