Mansfield named second best region to start a new business in the UK

The study by marketing training hub School of Marketing analysed the latest ONS data on the number of new businesses and closing businesses.

It found that the Cardiff area was the best place to start a business.

Last year saw 72.14 per cent higher business openings than closures, with 3,460 new businesses in the region compared to 2,010 shutting down. This meant that for every ten businesses that died, roughly 17 new ones started. In the city of Cardiff itself, the financial and business sector is the largest employer, with 20% of the city’s workforce employed in this field.

Mansfield came in second, with 625 new businesses in the area compared to the 380 that closed in 2021 which meant that for every ten businesses that closed, around 16 more were started.

The 260 new businesses in the third quarter of 2021 was not only the highest post-pandemic statistic but also the highest since 2017.

Broxtowe was in seventh place in the list, with last year seeing 580 business births and 410 deaths in the area, meaning the Nottinghamshire district saw 14.15 businesses opened for every ten that closed.

Commenting on the findings, a spokesman from School of Marketing said: “With many prospective business owners holding out to begin their companies with the uncertainty of the COVID-19 pandemic, this list not only shows the best regions to do so but also highlights how in many areas the economy is starting to flourish again.”