Salford sees biggest jump in start-ups as tech firms begin to abandon London’s ‘Tech City' due to rising rents

Regional cities are seeing bigger increases in the number of new start-ups than London, a study has found.

Salford saw the biggest boost in the first quarter of the year, at a time when start-up growth overall is decreasing.

The city produced 1,391 start-ups, up 85 per cent on the same period last year, the study by online business intelligence firm DueDil found. Leicester was second with a 34 per cent rise, followed by Norwich.

Salford produced 1,391 start-ups, up 85 per cent on the same period last year

Salford produced 1,391 start-ups, up 85 per cent on the same period last year

The study comes amid reports that tech start-ups are abandoning London’s ‘Tech City’ – the area around Old Street roundabout – due to soaring commercial rents.

London experienced growth of 5 per cent, but continued to produce more start-ups overall than anywhere else in the UK.

Justin Fitzpatrick of DueDil said: ‘The overall decrease… is perhaps demonstrating a cautious attitude towards enterprise with Brexit looming.’

 

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