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Why the Granite City is the best place to launch new business

Aberdeen
Aberdeen

Aberdeen is the best place in the UK to launch a business start-up, a new report says.

According to card payment firm Paymentsense, the Granite City tops the list due to its 53.5% survival rate for new firms.

Paymentsense looked into the business demography, local labour market and cost of living in UK cities to work out the best places for start-ups.

“It’s all about getting the right balance,” said Guy Moreve, head of marketing at the firm. “You need to find somewhere that fits in with your target demographic, but is also sustainable for you.”

For Aberdeen, the researchers reported average gross weekly pay of £583.90, a self-employment rate of 7.7% and a population of 229,800. They also found the average utility bill for a one-bedroom flat was £195.30, while working professionals in the city earned a total of £127.7million a week.

Paymentsense said: “With roots in the fishing, textiles, and shipbuilding industries, Aberdeen has reinvented itself to become one of Scotland’s leading centres for business.

“It now is a leading place for technology, with a focus on electronics design and development.”

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