Before you decide to start your own retail business, you must first research to determine the best way to go, see more. One of the most important factors you have to consider is the site of your business. In this context, selecting the right city will ensure that your retail business succeeds. In this text, you will be able to determine the best city for your retail shop.
When compiling the list of the top cities, various criteria are considered including the density of the density of the small and medium-sized retail businesses, the amount of SME closures, the cost of commercial property and digital connectivity. Here are some of the top cities you can consider for your retail business:
Brighton‘s best selling point lies on its population density as well as its proximity to London. The rate of employment is low in the city, suggesting that the local economy is somehow struggling. However, this can be to your advantage since there are plenty of employees. Besides, the office price per sq. foot and the start-up survival rate are both significant.
This city has a very high population density, at just above 4,000 people per square km. The rate of employment is also high, making the city a great place for attracting talent. The population also serves as a good market for your retail products. The start-up survival rate is considerable, and though the office price per sq. foot is high, the potential success of a retail business make the price worth it.
York is an excellent city for starting a retail shop owing to its high start-up survivals rate. The survival rate is backed by the strong infrastructure in the city and a high number of university graduates. This city also has an extraordinarily low crime rate, a good indication that businesses in the area have high chances of surviving. The broadband speed in the York is averagely 19Mbps, but this can efficiently serve the digital connectivity needs of a start-up retail business. The office price per sq. foot is also averagely low, hence great for a starting retail store – see more.
This city has the highest rate of employment of any city in the UK. This explains why it also ranks as one of the best cities in the UK to open a retail shop. The start-up survival rate is high due to many other factors too including the office price and security in the region.
Cambridge hosts one of the world’s top universities, and it is also the best city for businesses in the UK. In addition to its steady stream of talented graduates, the city has business support programmes and transport links which are also big assets to the emerging businesses.
London is undoubtedly a common place to start your retail shop. You might think that the competition is too stiff, but the start-up survival rate above average. This means that any great idea will enable your retail shop to survive. The population is high enough to offer employees, partners and investors you may need to support your retail business. The cost of commercial property could be high but is affordable.