Manchester has been named the third best city in the world for start-ups in a new index that takes cost, quality of life and ease of starting a business into account.
The only other UK city to make the top 25 is London, sitting in 15th place, and according to the report the capital has some way to go before it can compete with Manchester. The city ranked so highly thanks to its low cost of living and the great conditions it offers for start-ups.
“The fact that Manchester is the third best place in the world for new start-ups, beating the likes of New York, Sydney and London is phenomenal, and bodes really well for the future of the so-called Northern Powerhouse,” said Xenios Thrasyvoulou, founder and chief executive of PeoplePerHour.
“It’s fantastic to see that despite the worries over Brexit and the continuing fallout from the general election campaign, Britain has managed get two cities featured in the top fifteen rankings.”
Vancouver took the top spot overall thanks to its high quality of life, good access to office and space and the ease with which business owners can get their enterprises off the ground. Berlin, Lisbon and Stockholm fall in second, fourth and fifth place respectively.