Starting a business in Leeds

Start-ups in Leeds enjoy some of the highest survival rates in the UK – here’s why

With its numerous museums, parks, restaurants and bustling nightlife, you’re sure to get a taste of northern hospitality in Leeds.

According to the Leeds City Region Enterprise Partnership the city generates 4% of the UK’s economic output, and is a real hub for retail with five major shopping centres located in or near the city centre, with even more due to open in 2016 thanks to £1.1billion of private sector investment.

World-class travel links

The central location of Leeds in the north makes it easy to get around, with Manchester and Sheffield both less than 50 miles away and Leeds Bradford International Airport nearby. The travel infrastructure of Leeds is set for a further boost if plans for High Speed 3 go ahead. HS3 is set to connect northern England from Liverpool to Hull via Manchester and Leeds, making it even easier to commute across the country and access the resources and networks of the wider area.

New recruits

Leeds has three universities: the University of Leeds, Leeds Trinity University, and Leeds Beckett University – so it’s unsurprising that the city produces a high number of graduates every year. Most specialise in medicine and dentistry, but large proportions also focus on business and management.

Support for start-ups

The Leeds City Region Enterprise Partnership recently secured £1billion to help create tens of thousands of new jobs in the city, part of which will go towards the Aire Valley Leeds enterprise zone. As one of three new enterprise zones in Yorkshire, Aire Valley Leeds will help drive business growth and investment, offering low-cost premises to small and growing businesses across 142 hectares of prime development site.

Survival rates for start-ups in Leeds are among the highest in the UK, with 60.2% of early-stage businesses thriving in the period 2009-2012 – 5% of which went on to build £1m turnovers. So for small businesses looking for a supportive environment to grow in, Leeds is one of the best options in the country.