SALFORD NAMED THE SECOND BEST BRITISH CITY TO WORK FOR AN SME

SME lender iwoca publishes annual ‘Top 25 Towns & Cities for SME Jobs’ ranking, revealing the best places in Britain to work for a small business.

Salford has emerged as the second best city to work for a small business in Britain, according to new research compiled by iwoca - one of Europe’s largest small business lenders. 

iwoca’s annual ‘Top 25 Towns & Cities for SME Jobs’ list, which ranks areas using ONS data on average wage, commute, job density, house price and growth of the number of small businesses, found that in 2023, Glasgow, Salford and Liverpool are the top three areas to consider if you want to work for a small business.

Salford came in second place, ranking highly for its short average commuting time and job density. Salford residents typically spend 28 minutes travelling between work and home, compared to 40 minutes for those living in Greater London. The pioneering media hub, and home to the BBC, also boasts a boom in SME growth in recent years, as the number of small businesses in Salford grew by 25% between 2017 and 2022. 

As a growing hotspot for creative and media industries, with significant investment pouring into urban regeneration and commercial development projects such as the Salford Quays regeneration project and MediaCityUK , Salford continues to be an attractive place to work and put down roots. 

Salford beats Liverpool for the top spot in the North West, while Manchester falls 14 places

Salford ranked ahead of Liverpool and Manchester, emerging as a key centre for small businesses. 

Liverpool rose one place since last year’s ranking, placing third, thanks to a short commuting time and median house price of £150,000 – more affordable than many towns and cities in the North West.

Manchester, which secured last year’s second place, dropped to 16th, with slower SME growth since 2017 of just 4%. Salford, by comparison, saw a 25% increase in its number of SMEs over the last five years.

London missing from top 25 for SME jobs

Greater London failed to feature in the top 25 list for the second time, despite traditionally being considered the most important destination for UK jobseekers. While enjoying a high hourly wage, Londoners face among the highest house prices in the UK with median house price of £582,289, and a typical daily commute of 40 minutes. This combination pushes London down the ranking of towns and cities, suggesting workers seeking small business jobs could broaden their search to other parts of the country. 

Colin Goldstein, Commercial Growth Director at iwoca, said:

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“SMEs both nationally and locally, are creating thousands of jobs and providing the goods and services that keep Britain ticking. Job seekers looking for a fulfilling, dynamic career should consider looking beyond large corporations and to the SMEs in communities right across the UK. It is fantastic to see a wide geographical spread in our top 25 list this year, highlighting the range of thriving towns and cities that best support SMEs and their employees.”