Lancaster is 10th best city to start a business in as a woman

Lancaster has been named as the 10th best city to start a business in as a woman, according to a new study.

Wednesday, 28th April 2021, 3:45 pm
Lancaster has been named as the 10th best city to start a business in as a woman, according to a new study.

New data from payments provider Dojo has looked at the best cities for women to start a business, concluding that Lancaster makes the list as the 10th best.

By analysing data from the past year the index has revealed the UK cities where women should open business and compared this with the top cities to start a business overall.

Dojo analysed the following criteria to assess which city in the UK has the best working conditions for women to start a business:

*Five-year start-up survival rate - the percentage of businesses that survive longer than five years

*Cost of living - the amount of money it costs to live day to day

*Average Weekly Pay - how much the average full-time worker earns

*Female employees - number of female employees

*Female business owners - number of females that are self-employed

*Gender pay gap - where in the UK has the lowest gender pay gap

And Lancaster comes in 10th place, having 11.3 per cent of female bosses and 62.4 per cent of women in work.

Lancaster is a city proudly championing its female-owned and run businesses, such as The Growing Club, a not-for-profit organisation facilitating fantastic skills and business training, creating opportunities for women and providing networking and support for women wanting to flex their entrepreneurial muscles in the city.

The index was calculated based on UK five-year startup survival rates, ONS average weekly pay data, ONS gender pay gap data, ONS population data, ONS female employees and self-employed data and cost of living rates from Numbeo.

York came out on top, followed by Wakefield and Stoke-on-Trent making up the top three.

Starting a business anywhere within the UK will always start off as a challenge, but Lancaster ranked 7th within the UK to start a business in general.

The index was ranked on the five-year startup survival rate of new businesses, cost of living, and an average weekly full-time salary.

Wolverhampton, Wakefield and Stoke were ranked as the top three.