Reading tops list of towns with most potential for business growth

Reading

The Great British Enterprise Report says the town has all the ingredients to become a top place for entrepreneurs

Drone shot of Reading high rises
Reading is a top place to set up a business

Reading has everything it takes to become a top place to start and grow a successful business according to a new report.

The town is the top of the “entrepreneurial spearheads” list in Atos’ The Great British Enterprise report.

The research shows the British economy could benefit by around £34 billion a year if the local economies of towns and cities were to realise their full entrepreneurial potential during the next 10 years.

Researchers looked at the economies of 43 towns and cities across Great Britian.  They looked at six indicators that influence the success of entrepreneurship and enterprise, like skills levels and diversity, and other areas such as business survival rates.

Reading, Berkshire, came in the top five places in the country for four of the six indicators including having more than 50 per cent of population “highly skilled” with an NVQ level 4 qualification or higher (equivalent qualification between A-level and undergraduate degree).

It also has a high rate of start-ups and existing businesses, including 1,000 digital and technology firms covering a range of sectors including Artificial Intelligence and Fintech.

Its ethnically-diverse location was also praised, after research from the World Economic Forum showed greater population diversity has a positive effect of entrepreneurship.

The top five places with the most potential are:

  • Reading
  • Brighton & Hove
  • Cambridge
  • Cheltenham
  • Oxford

Cllr Jason Brock, leader of Reading Borough Council, said: “Many global businesses have chosen Reading to set up their UK headquarters, but it is also essential that new home-grown businesses are encouraged to develop and thrive.

“We have a highly skilled workforce and a diverse, ambitious population – the essential elements for a successful enterprise, whatever its scale.

“It is vital that local authorities like ours work with the business community to help create the best possible environment for small businesses to grow and to enable enterprising people of all backgrounds to be able to recognise their potential.”

News from Berkshire Live

Written by Editor

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