Stockport is among the best locations in the UK for aspiring entrepreneurs.

That's according to a new study by financial services company Markel which considered factors such as startup survival rates, business closure rates, and household income.

Stockport was placed at number five in a list ranking the best locations, runner up to Belfast at number one, followed by Cambridge, Exeter and Bristol at second, third and fourth respectively.

The town massively outperformed other North West locations including Manchester (number 31), Salford (34th), and Liverpool (43rd).

Stockport scored particularly highly when it came to the number of businesses which have survived their first five years, with a score of 9.2 out of 10.

Markel said this score reflected 'strong foundations for long-term entrepreneurial success'.

Stockport was deemed to have high rates of survival for small businesses, a supportive economy, and low closure rates (Image - Nub News)

The town similarly had a low rate of business closures, which Markel calculated based on how many closures there were per 100 active businesses in the area. 

Further still, Stockport was found to have a good score when it came to how much disposable household income was growing. It means that more aspiring business owners could potentially have more ready money at their disposal to invest into a new project.

And lastly, Stockport scored highly when it came to broadband speed, which Markel maintain is "a must for new businesses", giving a "crucial edge".

Summarising the findings, Markel's divisional director Rob Rees said: "Small businesses are the backbone of the UK, and many of the cities in our study are ideal locations for startups to thrive.

"Whilst running a successful business is influenced by factors beyond solely location, having access to superfast internet, a local talent pool and business support networks can provide your venture with the best start in the pivotal early days."

~

Free from clickbait, Stockport Nub News is a quality online newspaper for our town.

To get our top stories in your inbox each week, subscribe to our free weekly newsletter HERE.

Please consider following Stockport Nub News on Facebook or X