Brighton has been named the UK’s leading future economy city after recording the highest concentration of new economy businesses anywhere in the country. Research from Approved Business Finance looked at the number of new economy firms for every 10,000 residents in cities throughout the UK, covering different sectors.
Brighton recorded 36.9 firms per 10,000 people, putting it above Milton Keynes, Reading and Oxford in a league table that sheds light on where many of Britain’s newest businesses are choosing to build themselves.
Top 10 Future Economy Cities
- Brighton, 36.9 new economy firms per 10,000 people
- Milton Keynes, 36.1
- Reading, 35.1
- Oxford, 32.3
- Warrington, 32.1
- Edinburgh, 30.1
- Aberdeen, 27.8
- Bristol, 27.3
- Northampton, 26.7
- Bournemouth, 26.6
So, lets get into what this all means
Why Are These Cities Pulling In So Many New Economy Businesses?
One thing becomes obvious after reading through the table. Many of the names occupying the highest positions are not usually the first cities mentioned during conversations about the UK economy. London does not feature anywhere in the top ten. Manchester and Birmingham are also absent from the list.
Brighton has spent years building a reputation around digital businesses and creative tech companies. The city is often referred to as Silicon Beach, a nickname that captures how much tech activity has developed there over recent years. Easy access to London has helped entrepreneurs maintain relationships with investors and customers without needing a London postcode.
Milton Keynes has built its reputation around robotics, artificial intelligence and smart city tech. According to its tech strategy covering 2024 to 2029, those sectors have become an important element of the city’s economy. Reading has also become a very popular destination for tech businesses and recently gained recognition for having the fastest expanding economy outside London.
Commenting on the research, Mark Kozo, commercial director of Approved Finance Group, said, “The business world is ever-changing, and with the rapid rise of new economy firms, we are seeing a massive shift in where UK innovation is actually taking root.”
He continued, “The need for businesses that are technology-driven and focused on innovation, digitalisation, and rapid growth has seen cities like Brighton, Milton Keynes, and Reading rise in the ranks and become key players in the UK’s evolving business landscape.”
These cities have spent years building expertise within specialist sectors. New companies often prefer locations where knowledge, investment and experienced workers are already available.
Why Does Southern England Dominate Much Of The Table?
Four of the first five positions belong to southern England. Brighton, Milton Keynes, Reading and Oxford account for most of the upper section of the league table.
Oxford being on the list comes as little surprise. The city has long been associated with scientific research and tech development. The Oxford Science Park hosts fast expanding start ups as well as multinational corporations, creating an environment where new businesses can access expertise and investment.
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Reading is another example that was quite fascinating here. Approved Business Finance found commercial property there ranks among the most expensive in the country. But still, businesses continue choosing the city. Access to skilled workers and established tech communities clearly holds considerable value.
Brighton is similar: companies are willing to accept higher costs when a city already has a reputation within the sectors they want to enter.
Kozo said, “What’s clear is that there is a strong Southern link for many of these cities, but also some surprising contenders, with Northern and Scottish cities firmly putting themselves in the race as future-economy hotspots.”
What Are Northern England And Scotland Bringing To The Chat?
The list does in fact have much more than southern success as Warrington finished fifth, even managed to outperform Edinburgh, Aberdeen and Bristol. Positioned between Manchester and Liverpool, the town has become well known for engineering, tech logistics and nuclear activity. Those sectors have helped generate one of the highest concentrations of new economy firms anywhere in Britain.
Edinburgh came in sixth with 30.1 new economy firms per 10,000 residents (which is interesting position considering it being named most AI-ready a while ago). The Scottish capital continues to benefit from an established financial sector and an active technology community.
Aberdeen at seventh perhaps provides the most interesting example in the entire table. For many people, the city is still associated with oil and gas. Recent research from Approved Business Finance speaks of another side of Aberdeen’s economy.
Earlier this year, the company named Aberdeen the best city in Britain for starting a business. The city recorded 631 available commercial properties and 98.8% 5G coverage. Commercial space averaged £14.15 per square foot, making Aberdeen one of the most affordable business destinations examined during the research.
Average weekly salaries reached £620, which put Aberdeen as some of the highest earning cities anywhere in the UK. Few cities can match being able to do all things – from affordability and connectivity to earnings – 100% right.
What Can Entrepreneurs Learn From These Results?
The research looked at businesses working in AI, fintech, life sciences, advanced manufacturing and clean energy. These sectors continue attracting investment and producing new companies throughout the country.
If there’s a lesson that stands above everything else it’s that entrepreneurs do not necessarily need the country’s biggest cities in order to succeed. Many of the locations performing best have built reputations around specialist industries and highly skilled workforces.
That is why Brighton finished first and why cities such as Milton Keynes, Reading and Warrington occupy such prominent positions. Their success has been built over many years – and not overnight.
Like Kozo put it, “By choosing a future-ready hub, founders are giving themselves the best possible head start in a competitive market.”
