Revealed: The UK is the world’s most sought-after destination for starting a business
The UK has been named the world’s most searched for country to start a business, according to new global analysis from MoneySuperMarket.
Business insurance expert MoneySuperMarket analysed Google searches across 249 countries, cities and states to uncover where aspiring entrepreneurs are most interested in starting a business. The research finds that searches for ‘starting a business in the UK’ have been made 18,510 times globally over the past year – more than any other country included in the analysis.
Australia ranks as the second most searched-for destination for starting a business, with 13,080 annual searches, followed by Canada with 11,890. The United Arab Emirates and New Zealand round out the top five.
The most searched for countries for starting a business
Rank | Country | Total number of annual searches |
1 | UK | 18,510 |
2 | Australia | 13,080 |
3 | Canada | 11,890 |
4 | UAE | 11,340 |
5 | New Zealand | 10,500 |
6 | Singapore | 9,160 |
7 | Ireland | 8,750 |
8 | South Africa | 7,780 |
9 | Switzerland | 7,010 |
10 | Spain | 6,550 |
The UK draws the most interest from entrepreneurs in the United States, followed by those in India, Singapore, Pakistan and Australia.
The findings come as separate research from the Centre for Entrepreneurs suggests that around one in seven UK companies has been founded by someone who moved to Britain from another country.
Spain is the top choice for British entrepreneurs looking abroad
While the UK attracts more global interest than any other country, British entrepreneurs are also looking overseas for new business opportunities. Spain is the most searched-for destination among people in the UK who are interested in starting a business abroad, followed by Saudi Arabia, Qatar, Ireland and Thailand.
Where UK residents most want to set up a business abroad
Rank
|
Country
| The number of annual searches made for starting a business in this location by UK residents |
1 | Spain | 510 |
2 | Saudi Arabia | 450 |
3 | Qatar | 440 |
4 | Ireland | 430 |
5 | Thailand | 350 |
6 | USA | 320 |
7 | Canada | 300 |
8 | India | 280 |
9 | Japan | 270 |
10 | Switzerland | 220 |
The research suggests that UK entrepreneurs are looking beyond established European markets to fast-growing economies with thriving international business communities to seek opportunities for international growth.
Birmingham leads interest outside London
The analysis also looks at where people in UK cities are searching most frequently for information about starting a business abroad. Greater London recorded the highest overall search volume, reflecting its larger population and concentration of business owners.
Outside of the capital, Birmingham residents show the greatest appetite for launching a business overseas, recording 1,540 searches over the past year. Spain, Saudi Arabia and Qatar are the top destinations attracting the most interest from the city.
Manchester follows with 1,360 searches, with residents showing the greatest interest in Ireland Leeds places third, with searches most frequently focused on starting a company in Thailand.
The top UK cities searching to set up a business abroad
Rank | UK city | Total number of annual searches | Top location they want to set up a business abroad in |
1 | Greater London | 59,330 | Ireland |
2 | Birmingham | 1,540 | Spain, Saudi Arabia, Qatar* |
3 | Manchester | 1,360 | Ireland |
4 | Leeds | 970 | Thailand |
5 | Edinburgh | 730 | Hong Kong |
6 | Bristol | 640 | Qatar |
7 | Liverpool | 560 | Spain |
8 | Coventry | 480 | USA |
9 | Sheffield | 430 | Spain |
10 | Leicester | 370 | Saudi Arabia |
Alicia Hempsted, Business Insurance expert at MoneySuperMarket, says: “As businesses look to move abroad or set up in another location, it’s important to make sure they are protected. Business insurance can offer reassurance that businesses are prepared for the unexpected, especially as they begin to navigate a new location, rules and regulations. Business owners should explore their options before settling on a location, to ensure the cover provides the protection they need.”