Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Peterborough Crowned Best British City for SME Jobs

by June 20, 2024
June 20, 2024
Peterborough Crowned Best British City for SME Jobs

Peterborough has emerged as the top city in Britain for small business employment, according to new research from iwoca, one of Europe’s largest small business lenders.

The study, titled ‘Top 25 Towns & Cities for SME Jobs,’ uses data from the Office for National Statistics (ONS) to rank areas based on factors such as average wage, commute time, job density, house prices, and the growth of small businesses.

Peterborough secured the first place due to its short commute times and significant growth in small businesses. Residents of Peterborough typically spend 17 minutes commuting, a stark contrast to the 40-minute average for Greater London. The city also boasts the second-highest rate of SME growth in the UK, with a 19% increase in small businesses from 2018 to 2023. This impressive growth has propelled Peterborough from 19th place to the top of the list this year.

Located less than an hour from the tech hub of Cambridge, Peterborough benefits from an innovative business environment while maintaining affordable house prices, averaging £232,500 compared to Cambridge’s £490,250. The recent opening of a new Anglia Ruskin University campus in Peterborough, offering courses tailored to local employers’ needs, has further bolstered the city’s appeal for jobseekers.

Preston and Newcastle Climb the Ranks

Preston has risen from ninth to second place on the list, driven by a strong job market and increasing wages. The city’s job density ratio, which measures the number of jobs available per worker, is the ninth highest in the country at 1.11. Additionally, hourly pay in Preston has increased by almost £1 over the past year, now averaging £18.41.

Newcastle has also seen a rise, moving from seventh to third place. This improvement is attributed to an increase in hourly pay, from £18.11 to £19.41, and affordable housing, with median house prices at £175,000. By comparison, St Albans is the most expensive British city for home ownership, with average house prices at £625,000.

London Absent from Top 25 for SME Jobs

Despite its status as a key destination for jobseekers, Greater London did not make the top 25 list for SME jobs for the third consecutive year. The capital ranks 83rd, largely due to its high median house prices (£530,000) and long commute times (40 minutes), despite offering high average hourly pay (£26.31).

The bottom three cities in the ranking, all located in the South East, are Epping Forest, Tonbridge and Malling, and Lewes. These areas suffer from lengthy commutes and slow small business growth.

Seema Desai, COO at iwoca, highlighted the importance of SMEs: “SMEs are not only huge assets to our high streets – but they provide millions of opportunities for jobseekers of all levels and generations. Beyond the much-talked-about large corporations, SMEs give workers the fulfilling and diverse careers they strive for, and it’s fantastic to see these opportunities being spread across the country.”

Read more:
Peterborough Crowned Best British City for SME Jobs

0
FacebookTwitterGoogle +Pinterest
previous post
Strong networks are key to success for business owners
next post
Businesses Struggle with AI and Green Tech Amid Persistent Skills Shortages

You may also like

2022’s Top Rated South African Casinos with the...

August 9, 2022

Investec and OakNorth embroiled in row over COVID...

October 26, 2023

Jeremy Hunt confirms triple lock for pensions to...

March 25, 2024

Hire Space forecasts thousands of hours’ worth of...

June 15, 2023

Are you a fit director?

July 19, 2023

Ocean Harvesting to raise €500,000 for InfinityWEC Design...

March 20, 2024

From Front Desk to Founder: How Nupen Patel...

April 3, 2025

Losses at Gordon Ramsay restaurants narrow sharply after...

May 15, 2023

Warner Bros confirms huge expansion of Watford studios

September 22, 2023

Energy companies launch legal action over windfall taxes

December 29, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025
    • Tech ETFs are Leading Since April, but Another Group is Leading YTD

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,567)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved