Sunderland ranks in bottom three UK cities to start a business
Sunderland has been ranked in the bottom three cities to start a business despite having the cheapest office space to rent.
A financing specialist has compiled a dataset on the best cities in the UK to start a business, finding Sunderland in the bottom three, along with Dundee and Plymouth.
Loan Corp used the dataset to bring together various factors including broadband coverage, average small office property rental, business survival rate, and the average wage of a business owner.
The results reveal that Sunderland has the lowest average rental price for a small office space of any city in the UK, with a monthly average of only £130
Newcastle upon Tyne follows as the second cheapest with a monthly average of £154.
Salary in Sunderland is a key factor in its ranking, both average general income and average income of a business owner. Despite the fact that the average annual income of a business owner in Sunderland is £44K, the average annual income in Sunderland is around £26k.
In comparison, the average wage in Newcastle upon Tyne is around £24k with a rise of £32k in the average salary of a business owner.
The dataset, therefore confirms that Sunderland is not as profitable for businesses as its neighbouring cities.
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our daily bulletin, sent to your inbox, for free.
How businesses can reduce workplace safety risks with custom solutions
Tech firm unveils jobs plan after £530,000 backing
SMEs urged to think big at Newcastle event
B Corp is a commitment, not a one-time win
Government must get in gear on vehicle transition
A legacy in stone and spirit
Shaping the future: Your guide to planning reforms
The future direction of expert witness services
Getting people into gear for a workplace return
What to expect in the Spring Statement
Sunderland leading way in UK office supply market
Key construction developments in 2025