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SALFORD'S A STARTUP HOTSPOT AS GROWTH OUTRANKS LONDON

Salford seems to be the place to be if you are thinking of setting up a startup company.

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It's not all doom and gloom on the jobs front in Salford....

Data recently released by DueDil, a London-based company information platform suggests that, Salford produced 1,393 startups in the first quarter of this year (2017).

The data also showed and explosion in startup growth rate of 85.49% for the same period last year.

Leicester came in second, having shown a startup growth of 34.45%.

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Liverpool, Norwich and Oxford were also in the top 5.

London, however, only managed a growth rate of (5.12% Year on Year) when compared.

The Capital however still remains the leader for startups, with more than 57,000 new companies founded in the during Q1 of this year, although like Birmingham, Manchester, Glasgow and Leeds, growth between January and March had slowed.

Justin Fitzpatrick the COO and co-founder of DueDil added:

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“Interestingly, just a handful of the UK’s major cities made the overall top 20 for startup growth, with cities such as London, Birmingham, Glasgow and Leeds all absent from the top rankings, suggesting that they are slowly losing their grip on their status as the UK’s startup growth.”

 

Salford is a City that is on the rise, as more startup companies means more jobs available, it also brings an increase from business taxes into council coffers which at the moment are running dry.

Media City has been the driving force behind much of this growth as new startups in the film, media and digital skills industries take advantage of the close proximity of Dock10, BBC and ITV as well as other existing media and gaming based companies already with roots in the area.

Managing Director of Media City Stephen Wild said:

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“We are also seeing an increase in gaming companies, people working in virtual and augmented reality, and fashion startups. This plethora of creatives makes MediaCityUK and Salford a really exciting place to be.”

 

With Brexit looming and uncertainty in the future of the economy it is fantastic to see Salford bucking the national trend and beating out much larger Cities in creating opportunities for new business.

The redevelopment of Salford Quays and Media City is paying off BIG TIME, and proving to be a fantastic asset to Salford as a hub for creativity and innovation which is now paying dividends. 

Fantastic News...... However personally speaking I think we need to up our game on the education front so as to ensure that local school/college/university leavers have the best chance possible of taking advantage of this apparent boom time.




KARL



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