According to a recent gender gap study, Swansea is the third-best UK city for women to start a business.
Paymentsense have ranked the best cities for women to start a business, based on the number of females employed in each city, the average gender pay gap percentage in those areas, the percentage of female business owners per city, cost of living, rent price and median weekly pay.
When launching a start-up, location is always one of the key factors to consider as it can make or break a business. One of the reasons that over half of UK start-ups fold in the first five years is down to location.
A 2019 government study revealed almost 8/19 companies still pay men more than women, so how does this correlate when it comes to starting their own business?
Top 5 cities for women to start a business
Milton Keynes
With a thriving economy that includes key players within the scientific, professional, retail, and technical sectors, Milton Keynes offers SMEs a great chance to thrive, with a 41.91% five-year survival rate. Several national and international brands all reside in Milton Keynes, including Argos, Mercedes-Benz, Domino’s Pizza, and Suzuki.
London
As one of the world’s most visited cities, it’s no surprise the UK capital is riding high on our list. The iconic city is responsible for approximately 30% of UK GDP and is a major player in both national and international finance. London also thrives when it comes to media, technology, and tourism.
Swansea
The service sectors are well represented in Swansea, with close to 90% of those employed there working in education, health, public administration, or finance. The city is also home to the DVLA headquarters, as well as several technology and communication giants.
Sheffield
Sheffield has evolved past the decline of its once dominant steel industry to become one of the best cities for UK start-ups. It is a major destination for employment within the sport and public sectors and is notable for its advanced technologies within manufacturing.
Leeds
Leeds has one of the most diverse economies in the UK and is one of the country’s largest legal and financial centres. Other major sectors include engineering, chemicals, medical technology, and food and drink. In recent years, Leeds has also emerged as a major player in the digital and creative industries.
Sharn Khaira, a 34-year old owner of Desi Bride Dreams and the Asian Female Entrepreneur Collective in Milton Keynes commented on how in setting up her own business, her professional opinions were often overlooked.
“This wasn’t just me that experienced it, other female planners and suppliers did as well.”
Leanne Holder, 26, from Wales who owns businesses in the automotive and beverage industries discussed how she struggled to be “taken seriously as a female” after quitting her full-time job to go it alone. She spoke of numerous instances where she be ignored by suppliers in favour of her male employees.
When deciding where to base her business, Leanne chose Wales for its beautiful scenery, but also because of cheaper warehouse costs than in England, after quitting her full-time job.
“I feel that many of us are judged immediately by what we wear, and we present ourselves and I do feel that we can often be spoken down to – almost like we are playing at it. To be a woman in business personally I have found I needed to toughen up a bit and to make myself heard.” Leanne added.
