The findings from technology recruitment firm, Resst, highlight Middlesbrough as one of the best places in the UK to launch a startup.
According to the company, Middlesbrough is ranked 3rd best in the UK ahead of big cities such as Edinburgh, Liverpool, Birmingham, Manchester and London – which is ranked 19th out of 20 on the list.
The report suggests traditional business powerhouses are proving to be more hostile to new businesses, and the long term success rate of start ups is lower in the capital and major cities compared to smaller towns and cities.
It cites a number of factors that are contributing to this trend including the effects of Covid-19, and improved infrastructure and shorter commute times are adding to the rise of successful start ups in smaller towns.
More and more young people are choosing to stay in their home town and start new businesses from their bedrooms or in small business premises, rather than opt for major cities with potentially bigger overheads.
Brighton and Bournemouth rank just above Middlesbrough as the top two places to start a successful business.
The average broadband speed across Middlesbrough is 97.2mbps and the average commute to work takes 17 minutes and 51 seconds.
39.8% of new businesses in Middlesbrough remain in business for more than five years.
