Regional city rises ten places in annual iwoca rankings

Worcester has been named the third-best city in Britain for small business jobs.

It climbed ten places in the annual ‘Top 25 Towns and Cities for SME Jobs’ ranking published by SME lender iwoca.

The league table uses Office for National Statistics data to assess areas by average wage, commute time, house prices, job density and growth in the number of small businesses. 

Darlington and Norwich took the top two spots, with Worcester climbing into third on the strength of its short commute times and high job density.

Short commutes

Worcester residents spend an average of just 17 minutes travelling to and from work, one of the shortest commutes in Britain, compared with 38 minutes for those in Greater London. 

The city also records a job density of 1.02 per worker, an average hourly wage of £22.17, and a median house price of £261,000 – significantly lower than London’s average of £490,000.

The city is also benefiting from sustained investment. Worcester City Council used part of its £2.96m UK Shared Prosperity Fund to launch a Business Growth Grant scheme offering eligible businesses up to £5,000, and the Shrub Hill Quarter regeneration project is transforming former industrial land into a new business district due to open this year.

Stafford and Stoke rank highly

Two other West Midlands cities feature in the top 25. 

Stoke-on-Trent climbs 58 places to fourth, its highest-ever position aided by a median house price of £150,000 and SME growth of 6.8%, and Stafford bags 18th. 

Birmingham and London lower down the table

Birmingham, by contrast, ranks 110th, hindered by longer commutes and a 1.5% fall in the number of small businesses.

Greater London fails to appear in the top 25 for the fifth consecutive year, dropping to 92nd place, its lowest position to date, weighed down by lengthy commutes, high house prices and a 2.2% fall in SME numbers.

It’s all about Worcester 

Seema Desai, chief operating officer at iwoca, said: “Worcester’s climb to third place in our rankings is a brilliant example of how regional cities can rival, and even outperform, major cities when it comes to jobs and small business opportunities. 

“With affordable housing, short commutes, and a growing local SME sector, Worcester deserves to be on every ambitious worker’s radar.”

Councillor Alan Amos, of Worcestershire County Council, said: “Worcester’s climb into the top three places in iwoca’s ‘Top 25 Towns and Cities for SME Jobs’ highlights the strength of our business community and the positive economic momentum across the county. 

“Small and medium‑sized enterprises remain at the heart of Worcestershire’s economy, and it is encouraging to see national data reflect the confidence we hear from local businesses every day.”