A study conducted by payment provider Dojo, part of the Paymentsense brand, found that the city was the sixth best place in the UK to turn lockdown hobbies into successful side hustles.
The news has been welcomed by business leaders, who say that it’s no surprise as the city is such a good start-up incubator.
It also follows Instant Offices’ latest Entrepreneurial Index which ranked Portsmouth as the most entrepreneurial city in 2020 and a separate report by finance firm Capital on Tap, which found 1,970 new firms had started in Portsmouth since March 23.
Deputy leader of Portsmouth City Council, Cllr Steve Pitt, said: ‘This is the third report in as many months to highlight Portsmouth as a great place to start a business, which is so heartening to see.
‘It’s particularly inspiring that part of the study criteria is based on five-year start-up survival rate, showing that we’re creating companies that last.’