Newport is the second worst city for business survival according to a new report by money.co.uk.

Figures show that 210 out of 1,650 start-ups in the city last beyond five years, 12.7 per cent. 

Bromsgrove took first place for worst start-up survival with just 5.8 per cent and the only other Welsh region on the top 10 of the worst was Rhondda Cynon Taf with 20.3 per cent.

Kyle Eaton, money.co.uk business credit card expert, said: “Lack of funds and running out of cash are two of the biggest reasons businesses fail, showing just how vital this step is.

"It’s so important to consider the costs of everything, from websites to staffing. Make sure you do your research to understand not only how much you’ll need but also where and how you can source your funding. 

“Is there a demand for your product? This is something you need to establish in the early phases of developing your business. This will help you market and advertise your product, as well as understand exactly who your target audience is. You need to think about the problems your products or services will solve and why your customers will want to return.

“The most important thing to remember is to do your research to create as strong a business plan as possible to give your business the biggest chance of surviving. Research and preparation also play a huge part in securing funding and setting your enterprise up for success.”