London beaten out by New York, named second best city for entrepreneurs ️

Despite high cost of living in both cities, unmatched networking opportunities bump them both to the top

A new report by SumUp takes a deep dive into the best cities across the world for entrepreneurs to live in, considering both business and lifestyle.

According to research, 20% of businesses have considered relocating*, however deciding on a city can take up a lot of time – something scarce among business owners. So instead of doing it yourself, SumUp experts have analysed taxes, quality of life, internet speeds, networking opportunities and more, to uncover the best cities for entrepreneurs in the world.

The best cities in the world for entrepreneurs to move to

The full study can be found here.

New York named the best city in the world for entrepreneurs

Despite the high cost of living, New York ranks as the best city in the U.S., and the world, for entrepreneurs to live in. New York is thriving and successful across many different industries, from finance, real estate, fashion, and tech, to being a tourism hotspot all year round.New Yorkers show entrepreneurial flair, with some of the highest volumes of Google searches for “how to get rich” (9,240) and “how to make it in business” (5,130). The city also has two international airports and the most (37) WeWork locations of all cities analysed, facilitating business collaboration.

London named second best city in the world for entrepreneurs

London ranked as the second best city in the world for entrepreneurs, making “The Big Smoke” a great option for British entrepreneurs to relocate to with ease. Despite the high cost of living, the quality of life in the UK capital city is impressive, at 145.43. The high business survival rate (89.1%) in London proves British entrepreneurs are making the most of the support on offer, such as government schemes, grants, and support networks. Google searches in London for “how to get rich” are higher than in any other city analysed by SumUp (10,310).

Dubai offers 0% personal income tax, which proves attractive to Brits

Dubai is known for its luxurious lifestyle and financial advantages, both factors aiding its high position in the ranking, with 0% personal income and capital gains taxes, and the highest quality of life score of the top ten (174.8). Ranking as the third-best city for entrepreneurs, Dubai is a hub for business-focused individuals searching for opportunities. Brits, in particular, search online for the move to Dubai 3,600 times on average every month.