Leeds outperforms other Northern cities
17 Apr 2015
A report into business “scale-ups”, compiled by investor Sherry Coutu in collaboration with research firm Duedil, and published in The Sunday Times shows that central Leeds has 81 fast growing firms with a combined turnover of £2.3bn.
A “scale-up” is classed as a company which has achieved three years of 20 per cent growth in revenues or staff. The report identifieid that the cities of London & Westminster constituency are the number one location in the country and is home to 638 scale-ups that bring in £544bn of combined revenues. Cambridge came in second with 86 fast growing firms, and Leeds third.
In contrast, the report identified that Manchester central has 66 scale-ups, Edinburgh North and Leith has 59 and Birmingham Ladywood has 49.
Tom Riordan, the chief executive of Leeds City Council, claimed that Leeds is the place to be for growing businesses, with access to tens of thousands of graduates, affordable and flexible rents and a great city life.
He added: “With more homes, cultural, technology and retail attractions coming on stream, and the Yorkshire Dales on our doorstep, the city has a bright future that more and more businesses want to be part of.”