London has been named the best place in the UK to start a construction business, according to new analysis by Travis Perkins.
The study scored cities across the country on salaries, demand for trades, the number of active construction firms, and business survival rates. Bristol came out top overall, followed by London, Coventry, Edinburgh and Belfast.
Top 5 cities to start a construction business:
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Bristol
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London
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Coventry
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Edinburgh
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Belfast
London leads the way when it comes to pay, with construction workers earning an average of £60,892 a year. The capital also boasts the largest number of construction businesses, with more than 61,000 currently operating.
Coventry shines on job opportunities, posting the highest number of listings per 1,000 residents. This points to a particularly strong demand for skilled trades in the city, from plumbers and electricians to carpenters and tilers.
Belfast takes the crown for business survival. Just 7.9% of construction firms in the Northern Irish capital closed, compared with much higher death rates in other parts of the UK, suggesting it offers a stable environment for start-ups in the sector.
A spokesperson at Travis Perkins said:
“Construction is the backbone of our economy, and it’s encouraging to see cities across the UK where the trade is thriving. For anyone thinking about starting out, this research highlights the areas with the strongest balance of demand, opportunity and long-term sustainability.”