U.S. Markets closed

The best UK cities for women to start a business in 2020

Top cities list was compiled based on factors such as level of female staff, gender pay gap, cost of living, rent etc. Photo: Getty

Milton Keynes is the best place in the UK for a woman to launch a company, according to a study.

Research by card services provider Paymentsense has revealed the best UK cities for women to start a business, based on factors such as the number of women employed, average gender pay gap percentage, percentage of female business owners, cost of living, rent price and weekly pay in each city.

1. 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 42% five-year survival rate. Several national and international brands all reside in Milton Keynes, including Argos, Mercedes-Benz (DAI.DE), Domino’s Pizza, and Suzuki (SZKMY).

READ MORE: Why women aren't running their own businesses

2. London

The capital is responsible for about 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.

3. 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 companies.

4. 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.

READ MORE: Best and worst places to be a woman revealed

5. 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.