Revealed: best places to start a trade business
Chester, Newcastle upon Tyne and Brighton are three of the best places in the UK to start a trade business, according to new analysis of start-up survival rates.
Research by Ironmongery Direct has revealed that 25 new trade start-ups open their doors every day. But its findings show that there are widespread differences in the survival rates for different types of trade businesses in different geographical locations.
The top five cities are:
- Brighton: best for builders, carpenters, and gardeners;
- Chester: best for plumbers - with high start-up survival rates, low advertising costs and a significant number of jobs available per capita;
- Leicester: ideal for gardeners;
- Coventry: the top location for electricians; there’s a high number of jobs in the area, and advertising costs for electricians are low;
- Newcastle upon Tyne: one of the best places to build a construction career; there’s a low amount of competition, with minimal advertising costs.
Meanwhile, London ranked 14th overall out of 20 cities, scoring most highly for construction workers (at 7th place) but poorly for electricians (in 17th place).
Ironmongery Direct has produced an online tool to help tradespeople across the UK assess the potential of different locations for specific trades. It provides information on levels of local competition, the availability of local jobs, trades courses, advertising costs and start-up survival rates.
“It’s surprising to see the difference across industries,” said Wayne Lysaght-Mason, managing director at Ironmongery Direct. “The city ranking is significantly different between plumbers and builders, for example. But it looks like Brighton could always use more tradesmen!”