Starting a remote business is a great way to save office spaces and commutes costs. But where in the UK is the best city to start your remote business?
A new study by card payment provider Dojo has revealed the best cities to start a remote business in 2022, and underdog Winchester ranks first. Updated for 2022, the fintech experts at Dojo have released their annual list of the best cities to start a remote business.
So whether you’re planning on selling your latest pandemic projects online or to kick start your business plan, these cities are the best places for growing your remote startup.
The top 10 UK cities for remote working
Dojo analysed and scored over 40 cities on the following criteria to assess which city in the UK has the best working conditions to start a remote business.
- Population – Number of people are living in the city
- 5-year start-up survival rate – % of start-up businesses that last longer than five years
- Internet accessibility – Population with access to the internet within the city and the average download speed
- Income – Average pay for full-time workers
- Unemployment rate – % population of the city that is unemployed
- Post offices – Number of post offices in each region
Winchester ranked the best city to start a remote business in 2022
Winchester is the best place to start a remote business, ranking the highest on the index with 76.1 out of 100. While the average monthly rent is relatively high, at £1,425, 44% of start-ups are still going after five years.
The unemployment rate is also one of the lowest cities in the index, showing the local economy is stable in this city. There are 1,346 post offices in the South East, where Winchester is located, and the average download speed is 47 Mbps, so you will be able to respond to your orders and customers in no time.
Oxford takes second place, and St Albans is close behind in third
Out of the 40 cities, remote businesses have a great shot at thriving in Oxford, ranking in second place, with an impressive 72.5 out of 100. Rent for a one-bed city apartment is cheaper here than in Winchester, at £1,032 on average, and the average weekly pay is also higher at £687. However, the survival rate of businesses tends to be lower at 41% and internet speed at 45 Mbps.
St Albans ranks third for starting a remote business, scoring 69.6 out of 100. This eastern area of the UK has over 1,126 post offices, and the internet speed is fastest here at 51 Mbps. The five-year start-up survival rate is fairly high, at 43%, and the unemployment rate is low, with only 2.7% of residents without a job, so the economy is doing well in this city.
Cambridge, Brighton and Hove are in fourth and fifth place, respectively
Cambridge ranks fourth, proving a great place to start a remote business, scoring 68.6 out of 100. This city has a very low unemployment rate, 2.8%, showing that it has a thriving economy, and you can also expect to earn a high weekly salary of £687.
Brighton and Hove are close behind and secure the top five, scoring 64.6 out of 100. The five-year start-up survival rate in Brighton and Hove is among the highest out of all cities analysed, with 44.3% of start-ups still active after this period.
Jon Knott, head of Customer Insights at Dojo, commented: ‘Interestingly, none of the cities that made the top five in our 2021 ‘best cities to start a remote business from’ index are in this year’s top five. It seems more has changed in a year than you’d think.’
‘When choosing a city to live in during the often challenging venture of starting a remote business, be it a start-up or SME with an online and offline presence or an online-only business, there are many things to consider. You want to be somewhere with a lively and thriving economy, with plenty of customers searching for businesses like yours, and cheap enough accommodation to be sure you’ll never miss a payment. Hopefully, our index will give you an idea of where these places are.’
Please see the full research here for more information on the top cities to start a remote business.