Exeter named one of UK’s top cities for new businesses

Exeter has been named one of the best places in the country to start a business, according to new research by specialist insurer Markel Direct.

The city placed third in a nationwide ranking of 46 urban centres, standing out for having the highest five-year survival rate of any UK city, with more than half (51.7 per cent) of local start-ups still trading after five years.

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Exeter also performed well on business closures, with a rating of 8.8 out of 10, reflecting resilience in a challenging economy. Broadband speed was identified as a relative weakness, with a score of 5.8, slightly below the UK average.

The overall study considered factors including start-up survival, business closure rates, broadband coverage, and household income growth.

Belfast took the top spot, followed by Cambridge, with Exeter narrowly behind in third place, ahead of Bristol and Stockport.

Rob Rees, Divisional Director at Markel Direct, said: “Small businesses are the backbone of the UK, and many of the cities in our study are ideal locations for startups to thrive.

Whilst running a successful business is influenced by factors beyond solely location, having access to superfast internet, a local talent pool and business support networks can provide your venture with the best start in the pivotal early days.”

Exeter’s strong showing reflects its growing reputation as a hub for entrepreneurs, with business support networks and a skilled workforce helping new ventures take root.