Sunderland ranks in bottom three UK cities to start a business

Sunderland has been ranked in the bottom three cities to start a business despite having the cheapest office space to rent.

A financing specialist has compiled a dataset on the best cities in the UK to start a business, finding Sunderland in the bottom three, along with Dundee and Plymouth.

Loan Corp used the dataset to bring together various factors including broadband coverage, average small office property rental, business survival rate, and the average wage of a business owner.

The results reveal that Sunderland has the lowest average rental price for a small office space of any city in the UK, with a monthly average of only £130

Newcastle upon Tyne follows as the second cheapest with a monthly average of £154.

Salary in Sunderland is a key factor in its ranking, both average general income and average income of a business owner. Despite the fact that the average annual income of a business owner in Sunderland is £44K, the average annual income in Sunderland is around £26k.

In comparison, the average wage in Newcastle upon Tyne is around £24k with a rise of £32k in the average salary of a business owner.

The dataset, therefore confirms that Sunderland is not as profitable for businesses as its neighbouring cities.

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