Wokingham Borough has been named the best place in the UK to start a new business, according to a new study.
The Berkshire borough came ahead of major cities including Edinburgh, London and Manchester in research by The Investors Centre.
Researchers assessed seven indicators linked to long-term business success, including employment rates, business survival, economic productivity, the number of high-growth companies, office costs and workforce skills.
Wokingham recorded the highest economic productivity of all the locations assessed, at £61.46 in gross value added per hour worked.
The study also found that 81% of residents were qualified to Level 3 or above, while the borough recorded a three-year business survival rate of 61.17%.
It also had one of the highest proportions of high-growth businesses in the UK.
Cllr Mark Ashwell, Wokingham Borough Council’s executive member for economic development, said the recognition was a “tremendous achievement”.
“This isn’t about luck. It reflects years of building an environment where businesses can invest with confidence, recruit skilled people and grow,” he said.
“Our residents, schools, colleges and employers have all played a part in creating one of the strongest local economies in the country.”
The council said the findings came as it continued to work with businesses, education providers and community organisations to support economic growth.
Cllr Ashwell said the accolade reinforced the council’s aim of supporting entrepreneurs, attracting investment and ensuring Wokingham remained a strong place to live, work and do business.
The research assessed locations using a range of economic and business indicators rather than simply the number of companies operating in each area.
