New research reveals the best cities in the UK to turn lockdown hobbies into lucrative side hustles.
Best Conditions To Start A Side Hustle
With the public stuck at home for the best part of a year many have turned to hobbies to keep themselves entertained. Many entrepreneurs have taken this opportunity to turn their hobbies into a business. Expert analysts at Dojo, part of the Paymentsense brand, looked at the following criteria to see which UK cities have the best working conditions to start a side hustle:
- Population – Number of people are living in the city
- 5-year start-up survival rate – % of start-up businesses that last longer than 5 years
- Internet Accessibility – % of population with access to the internet within the city
- Income – Average pay for full-time workers
- Unemployment Rate – % population of the city that is unemployed
- Post Offices – Number of post offices in each city
From the analysis, they ranked the top 10 cities for remote working.
|Ranking||City||Population||Region||Remote Business Index Score|
The top 10 cities for remote working – RANKED
Spotlight on Gloucester
Gloucester ranked BEST city to start a remote business! Gloucester is ranked as the best place to start a remote business with a total index score of 162 points. This South West city has one of the lowest unemployment rates out of all the UK regions examined at 4.1%.
With the average monthly rent for a one-bedroom apartment standing at £558 and an average broadband speed of 39MB, self-starters could be on track to turn their bedroom into a business.
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Norwich in second place and Southampton close behind. In second place is Norwich with a score of 156 points on the Remote Business Index. Boasting a large economy that ranks 15th out of 206 upper-tier authorities, and a five-year startup survival rate of 43.2% – it’s no wonder that this cobble street city is in the top five.
Southampton comes in close third place with 153 points. Home to approximately 86,000 businesses, and with a broadband speed of 52MB, Southampton solidifies itself as one of the best cities to start a remote business.
Carlisle and Swansea are in fourth and fifth place respectively. Carlisle comes in fourth place with the average five-year startup survival rate sitting at 43.2% and 1,111 post offices within the city – it racks up 148 points.
Following closely behind and securing the top five spot is Swansea with 146 points. Even though they have a lower five-year survival rate of 38.3%, the Swansea Bay City region had 11 companies listed on the 2020 Wales Fastest Growth list.