Best places to do business revealed in prosperity index

The 13 best places to do business have been revealed in a business environment index that is part of the Legatum Institute’s UK prosperity index.

The index ranked the locations by taking into account factors such as entrepreneurial activity, business survival rates, infrastructure and broadband speed.

Affordable

Amongst the list of locations featured in the index were Hertfordshire, which is known for its links to TV and film studios, and Richmond upon Thames, which has more affordable business rates than other locations in inner London.

Startup hotspot Hackney was named as one of the best places for doing business, with over 18,000 new businesses being set up in the borough in 2015.

Islington also made the list due to its thriving business activity, whilst East Renfrewshire scored highly for both its business activity and its educated workforce, being ranked number one in the Legatum Institute's education index this year.

Newcastle, which is known for its fast-growing tech scene, was ranked as one of the best places to do business due to its low startup costs, whilst Camden also made the list for its startup activity.

Innovative

Despite being the most expensive borough in London, Kensington & Chelsea was named one of the best places to do business due to its ideal location, whilst Edinburgh made the index for having good infrastructure.

Westminster also featured in the index, named as one of the best places to start a business for offering high-speed broadband, whilst Bristol, which recently launched one of the best startup projects in the world, made the list for its innovative businesses.