From fashion labels to food startups, a new study by Capital on Tap reveals that the UK’s entrepreneurial spirit is stronger than ever.
Independent businesses can be found far and wide across the country, from small bookshops such as Mini World Emporium in Manchester to independent fine wine, beer, and spirits merchants in Brighton.
Across the UK, the startup landscape is thriving, with multiple cities emerging as key hubs for young entrepreneurial talent. But which UK cities stand out as the leading centres for the next generation of entrepreneurs?
To find the UK’s true hotspots for young entrepreneurship, Capital on Tap analysed over 60,000 Companies House records using a custom script. They identified active founders aged 24 and under, then calculated their density per 100,000 residents to rank the nation’s top cities for young entrepreneurs.
Which UK Cities Hold The Next Generation of Entrepreneurs?
Manchester takes the top spot as the UK city with the highest concentration of young entrepreneurs. The research found around 290 founders aged 24 or under, equivalent to 74 per 100,000 residents.
The sample found that Wakefield, West Yorkshire, ranks second for young entrepreneurs as it has 30 founders aged 24 and under, which is equal to 41 per 100,000 residents.
Canterbury ranks third, with one of the highest densities of young founders in our research, around 36 per 100,000 residents.
Retail via mail order or the internet emerges as the most popular industry among young entrepreneurs. This sector (SIC code 47910) covers a broad spectrum of direct-to-consumer activity, including e-commerce stores, social media–driven retail, and online marketplaces such as Etsy, Depop, and Shopify.
You can view the full report here: https://www.capitalontap.com/en/blog/posts/uk-young-entrepreneur-report/
Capital on Tap provide a suite of financial tools to support small businesses in managing credit and savings.