New research by SME insurance provider, Superscript, has identified Sunderland as one of the UK’s most entrepreneurial cities.
Using new data released by the Office for National Statistics, Superscript calculated that between 2020 and 2021, the number of small businesses with up to 49 employees in Sunderland grew by 315: an increase of 6%. Cross-referenced with the government’s latest population figures to generate a ‘businesses per capita’ score for every town and city – this placed Sunderland in ninth position behind Leicester, Brighton and Hove, Southampton, Peterborough, Manchester, Gloucester, Preston, and Cardiff, with Carlisle completing the list in tenth.
With ‘The Great Resignation’ sweeping across the UK, largely influenced by the estimated 11.6 million jobs that were affected by the government’s furlough scheme, this has prompted many workers to re-assess their short and long-term priorities – becoming a catalyst for a boom in entrepreneurship.
According to Companies House, more than 340,000 new businesses were registered in the UK between January and June 2021, amounting to 80 new businesses per hour.
Cameron Shearer, Co-founder and CEO of Superscript, comments: “While the past year may not have seemed like an obvious time to launch a new business, it appears that furlough, reduced hours, and other factors such as working from home have spurred many employees to reassess their professional and personal goals.
“Given the spike we saw in young companies coming to us for flexible and bespoke insurance cover over lockdown, and the entrepreneurial spirit flooding the nation, we wanted to identify the cities that have seen the highest growth in small businesses. By plotting these new venture hotspots, including Sunderland, on a map for people to see and share, we’re able to highlight and celebrate those towns and cities across the UK that are perhaps underappreciated for all that they offer to entrepreneurs and businesses – as well as all the talented entrepreneurs they contain!”
Superscript provides flexible, monthly cover for small UK businesses nationwide, spanning thousands of business types, making it one of the nation’s leading business insurers.
To see the full map of the UK’s most entrepreneurial towns and cities, including case studies from a selection of exciting entrepreneurs working in those locations, visit: https://gosuperscript.com/most-entrepreneurial-locations/