Start-ups ditch London for East Sussex
New companies move down south after first 12 months of business, study finds
Start-up firms fall out of love with London after a year and head to East Sussex for lower cost bases and high-quality spaces.
A study into the attitudes of 500 small business leaders across London and the South East by Sussex Innovation at the University of Sussex revealed a startling change in attitudes after a year of operation.
The likelihood of leaving London jumps by almost a half with a year of start-up, from 47% considering relocation to 66%. Philip Johnson, Director of business support service Locate East Sussex, said, “Although there is an element of prestige locating a start-up in London it doesn’t take long for companies to realise that the high costs are unsustainable.
“We have good access to transport hubs, an expanding superfast broadband network and excellent business networks. Start-ups are realising that all these factors add up to East Sussex being a fantastic place to work and live.”
