Derby named the UK's "start-up capital"

Market Place in Derby city centre. Credit: Rui Vieira / PA Archive/PA Images

Derby has been named the UK's "start-up capital" in a survey done by a company exploring the entrepreneurial potential of all 69 cities in Britain.

The research by London online company Quality Formations judged cities on eight core criteria, including commercial property, energy prices, virtual office services, public transport, broadband service, workforce demographics, access to start-up finance and quality of life.

Researchers say Derby’s affordable cost of living, cheap virtual office rates and sky-high wages all helped the city to outshine more established business centres like London and Edinburgh. Their findings also highlight Derby as having some of the UK’s fastest internet speeds.

The survey found:

  • Derby is the nation’s number one place to start a business

  • Stoke-on-Trent, Stirling, and Coventry outperform London in terms of start-up potential

  • Hereford has been branded the UK’s worst city in which to start a business

Stoke on Trent was named second in the survey Credit: Rui Vieira / PA Archive/PA Images

Stoke-on-Trent was named second in the survey, with their new UniQ district, highly-integrated business support network and cheap commercial office rates helping the city rank above the third-placed Belfast.