Salford outperforms London as the UK’s hotspot for start-up growth

Salford View across the MediaCityUK piazza to the Studio Block

Salford is the UK’s growth hot-spot for start-up businesses, outranking both London and Manchester according to an in-depth study by business information experts DueDil.

The study reveals that the city has produced 1,393 new businesses in the first quarter of 2017 alone – making it the go-to home for entrepreneurs looking to turn ideas into action. It marks a massive 85% increase on the same period last year.

And it predicts that if Salford maintains its start-up growth rate it is on course to produce 5,286 businesses by the end of the year.

London, in comparison, witnessed a modest start-up growth rate of five per cent year on year, with Manchester showing a growth rate of 1.9 per cent.

City Mayor Paul Dennett said: “These figures are truly impressive and demonstrate quite clearly that Salford is a place where entrepreneurs with ideas are welcomed and where new business thrives. We are particularly keen to encourage companies that can provide new opportunities for the people of Salford.

The city council, together with our partners, has created the right environment for start-up enterprises and it is very rewarding to see this succeed.

The arrival of the BBC five years ago turned the spotlight on the city and related industries have followed to create a digital and media cluster of national importance at MediaCityUK.

“The rate at which new start-ups are growing is one of the best barometers of economic health and it is really encouraging to see Salford leading the country.”

Recent start-ups endorse Salford’s approach to business and say they are not surprised by the findings.

Keith McAvoy is one of the founders of the Seven Bro7hers Brewery, which is based close to MediaCityUK.

He said: “We are a Salford family so it was important to us that the business was based here.

“We got a lot of support from the Business Growth Hub, not just a loan which allowed us to buy equipment, but the advice and guidance we received was pivotal and it opened a lot of avenues to business for us.

“We are close to MediaCity, which as it expands is getting closer to us, and all this activity has a positive knock-on effect.”

Keith revealed that they are now considering opening a ‘Tap-Room’ at the brewery site itself to allow visitors to sample the various brews.

Keith said: “I would 100% recommend anyone thinking of starting a business to come to Salford.”