Bromsgrove is best for new businesses and startups

Bromsgrove

Bromsgrove in Worcestershire iss the best place for new businesses, with a 36 per cent startup death rate. To put that figure into perspective, the highest startup death was a huge 266 per cent in Rossendale.

OK so it’s another week, another survey, but as it’s good news for the West Midlands, we’re happy to publicise the research. This latest survey has been done by telecoms company Circleloop, using official government data,

The West Midlands dominate the top three spots, with Wyre Forest ranking second with 37 per cent and Redditch ranking third with 46 per cent.

Top ten local authorities with lowest startup death rates:

It’s not uncommon for new startups to fail within the first year of launching. Here are the locations where startups are more likely to succeed…

Rank

Local Authority

% of Startups that Died in 2019

1

Bromsgrove

36.76%

2

Wyre Forest

37.24%

3

Redditch

46.02%

4

Southampton

47.45%

5

Kettering

48.90%

6

Denbighshire

51.22%

7

Telford and Wrekin

54.67%

8

Wychavon

60.17%

9

Dartford

60.22%

10

Corby

61.02%

Damian Hanson, Co-founder at CircleLoop, said: “We hope to see that even after the struggles of 2020, people will continue to take the entrepreneurial step into setting up their own business. After the year we all had, it’s possible that our macroeconomic climate has driven more people to create either a new business to replace a lost job or even a ‘side hustle’ business to compensate for the loss of income in 2020 due to COVID-19.

“Starting your own business is a huge challenge, and the first few years can be gruelling. In fact, it’s not unusual to see new business enterprises fail within the first year. However, with the right idea and plenty of resilience and perseverance, a startup might just be successful.”