The magazine analysed data to rank the largest cities in the UK outside of London on their business attractiveness.

Magazine Today assessed 63 urban areas across 15 criteria including the scale of the private sector ecosystem, the strength of innovation, the number of high growth businesses, access to a skilled workforce and quality of life.

Edinburgh came top as a “vibrant, future-facing city” that benefits from a strong economy and business base, a highly productive and skilled workforce, a track record of innovation and a “much-vaunted quality of life”.

Scotland performed well in the index, with Glasgow making fourth place in the listing, The Herald reports.

Scottish business and enterprise minister Ivan Mckee said: “Edinburgh and Glasgow are both great places to do business. There is some fabulous work going on in a number of sectors that we’re very proud of, be that digital, tech, fintech, financial services, life sciences, the space sector or the energy sector, combined with some great universities.”

Kate Magee, Management Today’s editor, added: “Where is the best place to do business in the UK? For too long, London has greedily hogged the limelight. But business life doesn’t end at the M25.

“The UK has a series of thriving business communities and we want to celebrate their dynamism. Our in-depth research highlights how the UK’S key towns and cities really compare, with some results that may make you think again about your location.”