Warsaw was named the 3rd best enterprising city in Europe after Cambridge, UK and Tallinn, Estonia. That’s according to a new index created by digital payments specialist, takepayments.
The new Enterprising Cities Index by takepayments, ranks European cities based on a range of factors relating to enterprise opportunity and growth. The research reveals Europe’s most enterprising cities by calculating a city score which is based on the below five factors,
Number of start-up procedures required to start a business – UN Data, The World Bank
Number of days required to start a business – UN Data, The World Bank
New businesses registered – UN Data, The World Bank
Percentage growth in interest in starting a business on google – Google data
Economic freedom index score 2022 (national level) – Heritage
Europe’s 10 most enterprising cities
Sandra Rowley at takepayments limited said: “After challenging times, it’s common to see an increase in entrepreneurial spirit, innovation, and enterprise growth. This is why we created this list, revealing which cities are expected to be the most enterprising in the months ahead. It’s interesting to see break out cities such as Cambridge top the list above their capital city counterparts.”
Cambridge, Tallin, Warsaw, Athens and Amsterdam were named the top 5 cities
Cambridge, UK (Score = 3.18)
Topping our index, Cambridge was revealed as the most enterprising city in Europe. The city saw high scores across all five categories, never falling outside of the top 9. Cambridge saw a 40 percent increase in the number of people searching for advice on how to start a business over the past year, the second-highest increase on our list.
The city has excellent links to London and a world-class university, making it a prime location for enterprising businesses.
Tallinn, Estonia (Score = 3.11)
Estonia is known for its innovation, as one of the most digitally advanced cities in the world. It was the first country to offer digital IDs (e-Residency), allowing residents the freedom to easily start a digital business. That’s perhaps why Tallinn is named the second most enterprising city in Europe in the takepayments index.
The capital city offers residents and visitors free wi-fi across 30 hotspots and has a free public transport initiative too. This helps contribute to the affordability, high Economic freedom score and quality of living standards.
Warsaw, Poland (Score = 2.99)
Warsaw, Poland has seen the biggest percentage increase in the number of people wanting to start a business over the past year (according to search data). Increasing by a massive 75 percent! Poland as a whole has also seen growth in the enterprise, with more than a 181 percent increase in the number of new business registrations since 2006.
Promising startups include a range of tech-based companies, ranging from digital health brands, to sports tracking data and integrated smart software.
Athens, Greece (Score = 2.68)
Athens is the main centre for Greece’s economic activity and a great entrepreneurial city. Starting a business in Athens can take as little as four days and there are only three procedures required to start a business.
In addition, there has been a 182 percent increase in the number of businesses registered since 2006. The second highest in our rankings. The city has a growing number of innovative tech-based businesses taking off, particularly in travel and hospitality.
Amsterdam, Netherlands (Score = 2.68)
Amsterdam, known by tourists for its cycling, canals and coffee shops has seen a 97 percent increase in new business registrations. The city’s tech ecosystem alone was valued at €73 million according to Wired.
Alongside Tallin and Copenhagen, Amsterdam requires the fewest number of days to start a business. It requires just 3.5 days and as few as 4 start-up procedures. The Netherlands has a high economic freedom index score, known for its innovation and the relative ease of starting a business there.
The full results can be viewed below and on the takepayments index.
