Here's why 1,800 businesses have set up a home in Leeds since the Brexit referendum

Leeds is continuing to attract fast growing firms.

Analysis by AskTraders found that more than 1,800 businesses have been registered in Leeds since the referendum in 2016, making it the sixth most popular place for start-ups to settle.

Leeds was beaten to the top spot by London (46,000), with Birmingham second (3,938), Manchester third (3,709), Bristol fourth (2,558) and Liverpool fifth (1,878).

Sheffield came in at 12th with 1,232, while Hull was 23rd with 424.

Steve Miley, senior market analyst at www.asktraders.com, said: “What we are seeing here is a significant increase in companies, most likely from Europe, setting up in the UK – in other words, European firms looking to get a foothold in the UK prior to the UK leaving the EU.

“With so many uncertainties surrounding Brexit, the possible terms of Brexit and how business will be conducted between the UK and the EU after Brexit, setting up a company in the UK could be one way to reduce uncertainties.”

AskTraders analysed companies’ house data over a three-year period after the referendum result was announced in 2016.

The company then compared it to same period before the announcement.

The report says: “Despite there being so much uncertainty surrounding the referendum, 198,786 new businesses have been registered post Brexit – with 16,756 of those businesses registered that same year.

“This figure rose to 46,353 in 2017, 80,156 in 2018 and 55,521 businesses recorded so far in 2019. However, within the same time frame pre-Brexit, just 46,794 businesses were registered in the UK.”