Coventry ranks highest in UK for entrepreneurial growth, finds Instant Offices

Ever-entrepreneurial Coventry has seen the launch of more businesses over the last year relative to its population than any other UK city, according to analysis from Instant Offices.

631,029 new businesses were established across the UK during the first three quarters of 2022, a 15 per cent increase on the year before. As might be expected, London alone accounted for almost a quarter of this figure, demonstrating its status as one of strongest startup ecosystems in the world.

But when taking population and year-on-year growth into consideration, the nation’s capital was no match for the Midlands, as Coventry topped the list of the UK’s largest cities with Birmingham in close second.

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Instant Offices found that one company was registered for every 79 people living in Coventry, with construction, real estate, ecommerce, and freight transport by road among the most popular sectors. In 2022, it saw a 13 per cent increase on the previous year in businesses launched, compared with an even 0 per cent in London.

This can largely be put down to the city’s affordable commercial space and vast talent pool, as well as solid support systems for entrepreneurs and good transport connections.

Early-stage entrepreneurship is on the rise across the country following the pandemic, as more and more people choose to confront economic uncertainty and the cost of living crisis by forging their own path.

This is backed up by research from Enterprise Nation, which shows that a third of UK adults are planning to start a business or side hustle in 2023 – and if the experts are to be believed, there is no better location for them than Coventry.

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