- In 87% of the UK cities and towns analysed, at least 70% of businesses are expected to grow.
- Halifax, Nottingham, and Cardiff ranked amongst the top with the highest percentage of local businesses that are likely to grow.
Halifax, Nottingham, and Cardiff have been named as the places where companies are most likely to experience growth, according to a new study.
The research, from Trade Nation, used growth prediction data from Crunchbase to reveal the cities and towns around the UK with the highest percentage of businesses that are either very likely or likely to experience growth. According to the data, in 87% of the UK cities and towns analysed, over two-thirds (70%) of businesses are expected to grow.
Halifax ranked first in the research, with more than nine in 10 (96.94%) of local companies expected to experience growth. With a total of 229 companies noted on Crunchbase, 222 were listed as “very likely” or “likely” to grow.
Close behind in second place is Nottingham, 95.14% of companies expected to experience growth. Cardiff ranked in third place with 93.84% of businesses headquartered in the city expected to grow.
Top 20 Places With Highest % of Companies Expected to Grow
| Rank | Place | Total number of Companies | Companies “likely” or “very likely” to grow | % of companies expected to grow |
| 1 | Halifax | 229 | 222 | 96.94% |
| 2 | Nottingham | 1,953 | 1,858 | 95.14% |
| 3 | Cardiff | 1,526 | 1,432 | 93.84% |
| 4 | Glasgow | 3,444 | 3,215 | 93.35% |
| 5 | Gillingham | 68 | 63 | 92.65% |
| 6 | Rochdale | 266 | 244 | 91.73% |
| 7 | Edinburgh | 3,321 | 3,039 | 91.51% |
| 8 | Scunthorpe | 148 | 135 | 91.22% |
| 9 | Belfast | 1,678 | 1,530 | 91.18% |
| 10 | Hastings | 130 | 118 | 90.77% |
| 11 | Newcastle | 1,537 | 1,395 | 90.76% |
| 12 | Birkenhead | 208 | 188 | 90.38% |
| 13 | Aylesbury | 342 | 308 | 90.06% |
| 14 | Oldham | 353 | 315 | 89.24% |
| 15 | Cambridge | 2,085 | 1,858 | 89.11% |
| 16 | Eastbourne | 255 | 227 | 89.02% |
| 17 | Rayleigh | 100 | 89 | 89.00% |
| 18 | Worthing | 307 | 273 | 88.93% |
| 19 | Liverpool | 1,813 | 1,612 | 88.91% |
| 20 | South Shields | 87 | 77 | 88.51% |
Places With Highest Number of Booming Businesses
Looking at the cities and towns in the UK with the highest number of businesses expected to grow, to no surprise, London came in first place with 45,783 companies expected to grow.
Outside of London, Manchester came in second place, with 4,878 companies expected to grow. Scotland had strong representation amongst the top, with Glasgow in third place with 3,215 companies expected to grow, and Edinburgh just behind in fourth place and 3,039 companies set for growth.
Top 10 Cities & Towns With Highest Number of Businesses Expected to Grow
| Place | Number of companies expected to grow |
| London | 45,783 |
| Manchester | 4,878 |
| Glasgow | 3,215 |
| Edinburgh | 3,039 |
| Birmingham | 2,785 |
| Bristol | 2,340 |
| Leeds | 2,270 |
| York | 1,859 |
| Nottingham | 1,858 |
| Cambridge | 1,858 |
David Morrison, Senior Market Analyst at Trade Nation comments:
“Although there are many rumours of a recession this year or next, this data paints a positive picture for business growth in the UK with the majority of businesses in cities and towns around the UK expected to grow. This highlights the resilience and innovation in local economies, and the opportunities available for entrepreneurs and established companies alike.”
Trade Nation is an award-winning, globally established fintech and financial services provider.