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Bristol trumps major UK cities as a ‘top business destination’
Recent research has revealed that Bristol is “head and shoulders above” many of the UK’s top cities when it comes to launching a new business.
The research, published by Approved Business Finance, analysed a range of data points, including the average price of commercial properties (via Rightmove), cost per square foot, GDP, education levels, high-speed internet coverage, and average salary, to determine which cities offer the greatest potential for new businesses to thrive.
Bristol outshone cities such as Manchester, Liverpool, Glasgow, Edinburgh, and Cardiff, ranking just behind Oxford at the top.
The survey defied expectations, placing Manchester in tenth, Cardiff in fifth, and Edinburgh in third.
Recent research has revealed that Bristol is “head and shoulders above” many of the UK’s largest cities when it comes to launching a new business – photo: Milan Perera
Following a strong trading period over Christmas, retail analysts have noted that buying habits are returning to “pre-pandemic patterns”.
This trend was further corroborated by a quarterly report published by Business West earlier last year, which highlighted Bristol’s business resilience despite the ongoing economic uncertainty facing the country.
With inflation driving up the cost of goods, energy, and materials, alongside the continued rise in commercial property prices, aspiring business owners must carefully consider where and when to establish their ventures.
To aid these crucial decisions, Approved Business Finance has revisited its comprehensive analysis of the UK’s 60 largest cities.
Bristol’s Gloucester Road is recognised as one of the UK’s top ten “hotspots for independent shops” in a new study by American Express, where it ranked third – photo: Milan Perera
By examining a broad range of key data—such as average commercial property prices on Rightmove, cost per square foot, GDP, education levels, high-speed internet availability, and average salaries—the group has pinpointed the cities that present the most promising opportunities, as well as the toughest challenges for new businesses in 2025.
According to the research, Bristol ranks as the second-best place in the UK to start a new business, with the average cost per square foot for commercial spaces standing at £57.
With approximately 90 per cent of businesses in cities equipped with high-speed internet, Bristol has emerged as a highly attractive business hub.
Mark Kozo, commercial director of Approved Finance Group, said: “Starting a business in 2025 will be incredibly daunting, with inflation still a major concern for business owners and commercial property prices at historic highs.
“The cities we’ve identified, such as Oxford and Bristol, offer great potential for growth, but business owners must always consider their specific needs and resources before making a decision.”
The news comes as Bristol’s Gloucester Road is recognised as one of the UK’s top ten “hotspots for independent shops” in a new study by American Express, where it ranked third.
Cotham Hill near Whiteladies Road is a cornucopia of independent shops – photo: Milan Perera
The top-ten are:
- Oxford
- Bristol
- Edinburgh
- Nottingham
- Cardiff
- Aberdeen
- Norwich
- Glasgow
- Leeds
- Manchester
As the home to two world class universities, students in Bristol contribute significantly to the city’s economy, both directly and indirectly, through spending on accommodation, food, entertainment, and other services.
While the exact annual figure can vary, recent estimates suggest that university students in Bristol contribute around £1 billion annually to the local economy. This has a direct impact on the overall health of the business landscape in Bristol.
Recent estimates suggest that university students in Bristol contribute around £1 billion annually to the local economy – photo: UWE Bristol and Milan Perera
“Options like commercial mortgages can help entrepreneurs invest in the perfect location, while business finance provides the breathing room needed to maintain daily operations and fuel growth,” concluded Kozo.
Bristol is set to welcome several new openings in 2025.
Main photo: Milan Perera
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