Reports suggest that there are 160,000 new start-up businesses in Europe each year. However, with 10% of start-up businesses failing within the first year, it is vital that business owners are equipped with the right knowledge and surroundings to make theirs a success.
With this in mind, experts at The Knowledge Academy sought to find out which cities in Europe are the best for start-up businesses, by analysing factors such as the number of available office spaces, median fixed broadband speed (Mbps), and average University scores.
Key Findings:
- Paris ranks as the best city for a start-up business, with a score of 8.87/10.
- Spain dominates the top three, as Madrid ranks second with a score of 8.84/10, and Barcelona ranks third, scoring 8.83/10.
- London ranks in fourth place, with a score of 8.27/10.
We hope you find this release useful. If you do end up using it, we would appreciate a link to https://www.theknowledgeacademy.com/, who commissioned the data.
Top 10 cities in Europe for a start-up business
| Rank | City | Number of availableoffice spaces | Median fixedbroadband speedJan 24 (Mbps) | Average universityScore (/100) | Final Start-Up Score /10 |
| 1 | Paris | 188 | 193.34 | 70.4 | 8.87 |
| 2 | Madrid | 121 | 248.37 | 57.5 | 8.84 |
| 3 | Barcelona | 111 | 230.94 | 60.4 | 8.83 |
| 4 | London | 522 | 109.06 | 70.0 | 8.27 |
| 5 | Lyon | 36 | 276.64 | 46.6 | 8.23 |
| 6 | Dublin | 108 | 149.86 | 67.3 | 8.10 |
| 7 | Berlin | 137 | 96.34 | 77.0 | 8.07 |
| 8 | Warsaw | 60 | 168.21 | 51.5 | 7.92 |
| 9= | Amsterdam | 71 | 158.86 | 77.0 | 7.90 |
| 9= | Milan | 86 | 158.87 | 55.9 | 7.90 |
*The full data set and methodology is available here.
The Knowledge Academy has found that Paris in France is the best city for a start-up business, scoring 8.87/10. The city boasts an impressive average university score of 70.4/100, as well as a median fixed broadband speed of 193.34 Mbps. Paris is home to 1.1 million businesses, as well as the widest real estate market in Europe, offering a thriving environment for businesses. With approximately 188 available office spaces, Paris boasts a great environment for those looking to start up a business in the French capital.
Madrid, Spain’s capital city, ranks second with an impressive final start-up score of 8.84/10. This city has an average fixed broadband speed of 248.37 Mbps, which is considerably higher than the overall average internet speed in Spain (114.4 Mbps). The Spanish capital also boasts 121 available office spaces across the city, providing ample opportunity for those looking for offices to utilise for their start-up businesses.
Just 0.01 behind Madrid, Spain sees another one of its famous cities in third place, as Barcelona boasts a final start-up score of 8.83/10. The city boasts a slightly higher average university score than Madrid, of 60.4/100. Impressively, Barcelona has built its reputation as a solid start-up location over the last ten years, becoming the largest tech hub in southern Europe.
The capital of the UK, London, finds itself in fourth, scoring 8.27/10. London is known for being among the world’s leading financial centres for business and commerce, and has the largest concentration of business incubators. London also boasts the highest number of Universities in the Top 250 in Europe (9) of all the cities analysed, with an overall average University score of 70/100. The iconic capital hosts a massive 522 available office spaces, making it a great home for start-up businesses.
Talveer Sandhu at The Knowledge Academy provides expert tips on starting up a business, and selecting the right location:
“Starting up your own business is no easy task. As well as having the fundamentals of the business sorted, you also need to consider your surroundings as a key factor in its success.
“Ultimately, your chosen business location needs to be suited to the needs of the business, but should always consider factors such as office spaces. Having a headquarters or communal work space for your team can be essential in building camaraderie, teamwork, and success. Broadband speed and reliability is another crucial factor in the running of a business, with website and social media monitoring crucial in the initial stages of building a business and brand awareness. Online meetings also require a good internet speed and connection, in order to ensure smooth communications with those perhaps not as local to you.
“Some tips that can go a long way in creating a start-up business are as follows:
“Having a thorough, solid business plan. There is nothing worse than going into something unprepared, and the preparations for starting a business should be extensively thought out and well-planned, in order to help aim for the greatest outcome possible.
“Network well and collaborate with the right people. Building a successful business is not only down to planning and execution, but also having the right minds, work ethics, and personalities working within the company and contributing to its success. Smooth teamwork can be vital, as well as expertise and dedication, as starting a business requires resilience, time, and effort.”
