Leeds is outperforming Manchester, Birmingham and Edinburgh as a base for growing businesses, according to a new report.
The study shows that central Leeds has 81 fast growing firms with a combined turnover of £2.3bn - and local business leaders believe the feelgood factor from last year’s Grand Depart of the Tour de France is providing Yorkshire’s economy with a competitive edge.
The findings are contained in a report into business “scale-ups”, which has been compiled by investor Sherry Coutu in collaboration with research firm Duedil, and published in The Sunday Times.
A “scale-up” is classed as a company which has achieved three years of 20 per cent growth in revenues or staff. According to The Sunday Times report, the Cities of London & Westminster constituency came top in the survey. It is home to 638 scale-ups that bring in £544bn of combined revenues. Cambridge is the second biggest cluster with 86 fast growing firms, and Leeds is third, according to the report.
Gav Winter, the managing director of the technology consultancy, The Test People, said: “Yorkshire, and Leeds in particular, has a real buzz about it when it comes to technology and business.
“Le Tour and the regeneration of the city centre has been instrumental in changing the perception of Yorkshire, from a leafy suburb of the UK business landscape to a cool, vibrant place to work and live.”