The city of Milton Keynes has been put on the map once again – this time for being the most competitive city in the UK. We have topped the UK Competitive Index for 2023, which ranks places on how well they are set up to help businesses flourish.
The study, conducted by academics from the University of Cardiff and Nottingham Business School, measures UK places for their attractiveness to investors and businesses; this is based on the number of start-ups and ‘knowledge-based’ businesses in the area, alongside the productivity of workers.
Aside from being the most competitive city, the report also shows that Milton Keynes has high levels of entrepreneurship. It’s said that there are 62.3 business registrations per 10,000 people compared to 54.3 in the UK as a whole.
We also beat the national average on the number of knowledge-based businesses that rely on innovative practices, technology and skilled employees. This highlights just how brilliant and highly skilled our business community truly is.
The efforts of our local businesspeople and strong level of inward investment have meant that Milton Keynes has rapidly risen through the ranks of the index. Ten years ago, the city was ranked number 43 and is now a strong contender with major cities such as Cambridge and Manchester (placed third and fifth this year respectively).
Our city remains a market-leading place to do business and Milton Keynes City Council will continue to help firms put down their roots and grow here. Moving forward, the report predicts that Milton Keynes will have one of the highest long-term growth rates in the UK outside of London.
Our city is a regional economic powerhouse, and this strong position is only expected to solidify with time.
Find out more about the work that Milton Keynes City Council does with businesses by visiting www.milton-keynes.gov.uk/business/economic-development
Cllr Pete Marland Leader
Milton Keynes City Council
