Reading the UK hotspot for enterpreneurs
13th January 2023
A new study from CMC Markets has revealed Reading to be home to the UK’s most successful new businesses. The data from the study revealed Reading has the lowest percentage of closures, with just 0.13% of businesses launched between Dec 17-Dec 22 going into liquidation.
The study used business intelligence software, Endole, to analyse how many businesses were incorporated in the UK’s largest 25 cities from December 2017 to December 2022 compared to the number that went into administration, liquidation, or were dissolved.
Nigel Horton-Baker, Executive Director at REDA, said: “This latest report highlights Reading as a hotspot for talented entrepreneurs and a location which nurtures successful business growth. Of the nearly 7000 new businesses constituted in Reading between 2017 and 2022, just 0.13% failed, underling strong economic growth factors such as a skilled workforce, excellent connectivity, diverse business eco systems and a strong demand for goods and services locally, as well as the creativity within the diverse business environment.
“REDA has supported new business development in recent years by funding initiatives such as the Rebel Business School, which teaches people how to start a new business, business masterclasses and Thames Valley Berkshire LEP Growth Hub’s programmes for Start Up and High Growth.”
2023 will see REDA rolling out more start up training for local people, taking training and advice into the heart of our local communities. This will be supported by mentoring advice from local business people, who will watch over the developing business and offer advice and practical guidance to help ensure success. We are also continuing our work with the Berkshire Growth Hub thanks to funding from UK Shared Prosperity Fund – providing start up guidance for new business and expert advice for high growth companies.
