Paymentsense’s annual Innovative City Report has revealed that London ranks as the most innovative city in the UK for the second year running, with 96 new startup businesses per 10,000 people and a 125% increase in searches for ‘how to start a business’.

As businesses start to shift back to a sense of reality, Paymentsense analysed various data points to find out whether the Innovative City ranking for 2022 would differ from the ranking previously in 2021.

The study ranked each UK city on the following:

Number of Google patent applications
Number of new business registrations
RUR World university ranking
Average monthly search volume for ‘how to start a business’
Number of kickstarters

For the second year running, the UK’s capital, London ranks as the most innovative city in the UK. Search trends for ‘how to start a business’ are up by a staggering 125%. As a result of this, there has been a 19.30% change in the number of startup businesses from 2020 to 2021 as budding entrepreneurs set out to start their own small business.