MK named UK’s most competitive city

According to a study from academics at the University of Cardiff and Nottingham Business School, Milton Keynes has been named the UK’s most competitive city.

The UK Competitive Index ranks cities on how well they’re set up to flourish.

The study measured places across the UK for their attractiveness to investors, and businesses, based on the number of business start-ups and ‘knowledge based’ businesses (including in finance and technology) and the productivity of workers among other factors.

Milton Keynes has high levels of entrepreneurship with 6.23 business registrations per 10,000 people compared to 5.43 in the UK as a whole.

A third of MK businesses are classed as knowledge based, relying on innovative practices, technology and/or skilled employees. Nationally, less than a quarter of businesses are knowledge based.

Ten years ago, Milton Keynes was ranked 43 in the Index, and the city has risen steadily through the ranks since then, competing with long-established cities like Cambridge and Manchester (placed third and fifth this year respectively).

Lib Dem Councillor Robin Bradburn, Deputy Leader of Milton Keynes City Council, and Cabinet Member for Economic Development, said:

“We know that Milton Keynes is greatly attractive to business, especially the kind of innovative firms who are creating high-quality jobs to make the most of our local skilled workforce. We’ll keep encouraging investment, helping companies to put down roots and grow, and giving our support where it’s needed, such as our recent multi-million-pound fund to promote economic recovery.”

In the future, the report predicts Milton Keynes will have one of the highest long-term growth rates in the UK outside of London.