LONDON: Coventry’s businesses turn over more cash on average than businesses in any other British city.
According to figures from business database website DueDil, companies with a trading address in Coventry bring in £70.2billion a year.
This is based on a sample of the 16,356 active businesses in the area and is estimated to work out at around £94.3million per business on average.
None of the other cities in Britain can boast a bigger average turnover for their businesses.
Bradford is in second place with an average turnover of £87.7million per business while Edinburgh is third with £83.3million per business and London could only manage fourth with £64.6million.
The study, which analysed the 50 most populous cities in the UK and the businesses that trade in each one, found that Lancaster had the lowest turnover per business out of with each organisation pulling in £4.82million on average.
Coventry was also among the top ten for the average profit that each city’s businesses made after the costs of making their products had been factored in.
On average, businesses in Coventry make a gross profit of £10million a year which is the seventh highest number out of the 50 cities included.
Winchester’s businesses made the most cash with each business recording a gross profit of £19.5million on average.
Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said: “These figures make very interesting reading and I believe show our area off in a very positive light.
As the city – and the wider area – strives to attract new investment and new businesses, these statistics can only give confidence to those looking to invest in or move here.
There are many selling points for our region – some soft, some firm – but these figures will leave nobody in any doubt that this is a great place from which to do business.”
DueDil, which is short for due diligence, is a database website that provides business and accounting information on companies based in the UK.
In total there are 3.6 million active companies in the UK which rake in a combined turnover of £12.2trillion at an average of £51.3million.
