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Starting a business can be a difficult and complicated endeavour. There are many questions needing to be researched and answered in order to make a successful entry into the world of business.
It may be helpful to know which locations are best suited for starting up a business, as this could give an idea of where would be an ideal place to set up shop.
With that in mind, Tide, the UK's leading business financial platform has unveiled some hotspots for entrepreneurs to start out in.
The data relates to hotspots for female business founders, and the data could be useful for anyone with entrepreneurial spirit who is looking to get started on their path to business success.
Edinburgh and South East Scotland tops the list, with 90,000 self-employed people in total and 39 percent of them women.
The UK’s hotspots for starting a business have been unveiled (Image: GETTY)
The North of Tyne combined authority and the West of England combined authority take second and third place in the rankings.
There are 54,000 and 74,000 people who are self-employed in these areas respectively, with each having a female percentage of 34.7 percent.
Greater London is the largest hotspot in terms of number of entrepreneurs, with 864,000 people who are self-employed.
By contrast, the region with the smallest number of businessmen and women on the list is Aberdeen City, with 31,000 total entrepreneurs.
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Here is the full list of Tide's UK hotspots for female business founders:
1. Edinburgh and South East Scotland (90,000) – 39 percent female
2. North of Tyne Combined Authority (54,000) – 34.7 percent
3. West of England Combined Authority (74,000) – 34.7 percent
4. Cambridgeshire and Peterborough Combined Authority (56,000) – 34.2 percent
5. Aberdeen City Region (31,000) – 33.5 percent
6. Glasgow City Region (90,000) – 33.3 percent
7. Greater London Authority (864,000) – 33.1 percent
Greater London has the largest number of entrepreneurs on the rankings (Image: GETTY)
8. Sheffield City Region (75,000) – 32.5 percent
9. Liverpool City Region Combined Authority (88,000) – 30.9 percent
10. Cardiff Capital Region (81,000) – 30.9 percent
11. Tees Valley Combined Authority (34,000) – 29.4 percent
12. Greater Manchester Combined Authority (183,000) – 29.4 percent
13. Swansea Bay City Region (51,000) – 28.9 percent
14. West Midlands Combined Authority (167,000) – 27.2 percent
The research also revealed that 32 percent of men and 18 percent of women have considered starting a business in the last year, with the COVID-19 pandemic appearing to encourage more Brits to think about setting up in business.
On the findings, Lize Haskell, Chief Administrative Officer at Tide said:
"Starting your own business and taking that first step into entrepreneurship can be daunting, but there is lots of support and initiatives out there to help."
Ms Haskell also said that Tide is "committed" to helping women in the UK starting their own business, aiming to help 50,000 businesses set up by the end of 2022.
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