Startup Advice

Scotland named best place in the UK to start a business

Max White

These five key factors meant Scotland topped the list

Swedish fintech company iZettle has ranked Scotland the best place to start a business in the UK.

Why? Confidence, support, resilience, money and balance were all well exhibited north of the Border, making it a Mecca for businesses either looking to get off the ground or grow. The announcement comes only months after Scotland’s capital city Edinburgh was named the UK’s best city for start-ups.

Support for entrepreneurs

Support for business owners is strong in Scotland, according to the study, as two in three small business owners in Scotland say their parents are their biggest champions.

Having dependable family and friends is essential for new business owners. Not only might they front some extra cash when you’re scraping by in the early days, but more importantly they will provide much needed emotional support. Starting a business is draining. Having a rigid support structure in place will help improve your chances of success.

A fighter mentality

As well as scoring highly for support, Scottish entrepreneurs showed unprecedented levels of resilience.

Three-quarters of respondents said that having a “warrior spirit” is a key trait for anyone with ambitions for their small business. As a nation, its business owners said they didn’t regret starting a business and that given the choice, they’d do it all over again.