Cardiff in top 5 cities for most successful new business openings

DATA: Where are the most successful new businesses opening in the UK? 

• A new study from CMC Markets has revealed which UK cities are home to the most successful new businesses 
• The data from the study revealed Reading has the lowest percentage of closures, with just 0.13% of businesses launched between Dec 17-Dec 22 going into liquidation. 
• Stoke-on-Trent, Plymouth, and Cardiff also make the top five, with less than 1% of new businesses ceasing in the last five years  

Research from CMC Markets has revealed Reading as the UK city opening the most successful new businesses in the last five years, with just 0.13% going into liquidation.  

The study used business intelligence software, Endole, to analyse how many businesses were incorporated in the UK’s largest 25 cities from December 2017 to December 2022 compared to the number that went into administration, liquidation, or were dissolved.  

Alongside Reading, Stoke-on-Trent, Plymouth, and Cardiff are also home to some of the UK’s most thriving businesses and entrepreneurs.  

You can see the top 20 cities below. 

The 10 UK cities with the most successful new businesses  

Reading is the city with the lowest percentage of business closures (0.13%), suggesting this is a hotspot for talented entrepreneurs.  

Stoke-on-Trent lands in second place, with 6,228 new businesses opening in the last five years and just 13 reported closures.   

Plymouth lands in third place with just 0.27% of new businesses struggling to survive, followed by Welsh capital Cardiff with just 58 closures.  

Scottish capital, Edinburgh, also makes the top five cities for successful businesses, with a closure rate of 0.41%.  

Bradford also deserves an honourable mention, with just 11 closures out of 2,665 openings.  

City	No. of Reported Openings	No. of Reported Closures	Percent of Closures
Reading	6,877	9	0.13%
Stoke-on-Trent	6,228	13	0.21%
Plymouth	4,744	13	0.27%
Cardiff	18,232	58	0.32%
Edinburgh	17,372	71	0.41%
Bradford	2,655	11	0.45%
Bristol	17,043	94	0.55%
Northampton	8,993	49	0.55%
Derby	8,109	45	0.56%
Belfast	7,819	62	0.79%

The 10 cities with the least successful new businesses 

City	No. of Reported Openings	No. of Reported Closures	Percent of Closures
Southampton	5,337	162	3.04%
Sheffield	13,241	397	3.00%
Birmingham	16,330	333	2.04%
Leeds	15,377	276	1.80%
Manchester	35,525	622	1.75%
London	23,192	320	1.38%
Coventry	12,900	176	1.36%
Newcastle upon Tyne	7,988	96	1.20%
Kingston upon Hull	6,036	62	1.03%
Nottingham	9,863	95	0.96%

The data reveals Southampton is the city with the highest number of closures in comparison to openings between Dec 17 and Dec 22, with 162 of these businesses ceasing trading.  

Sheffield is next with 3% of closures, followed by Birmingham (2.04%) and Leeds (1.80%).  

Interestingly, despite having the highest number of new business openings overall with a staggering 35,525, Manchester is also on this list, as 622 of these companies closed down within five years.  

The city of London is also amongst the areas with the least successful new businesses, seeing 1.38% of closures.  

Credit to cmcmarkets.com who provided the above post