Why The North Is Superb For Businesses
Whether it’s Leeds, Manchester, Sheffield etc. the North of England is starting to see some major movement on a business front. Transformation is occurring as investment is hitting the north in large numbers through local infrastructure, faster internet speeds and advancing transport systems.
But why would you want your business in the north?
Well investment is hitting the north hard, with a number of Chinese investors being involved in regeneration projects across the north, mainly in Manchester and Sheffield. Not only that but investment in the northern tech sector is rapidly growing compared to anywhere else in Europe with a growth rate of 612 per cent between 2012 and 2017.
Cheaper operating costs
Not only is investment helping business growth in the north, but overall the north has much cheaper operating costs than southern England. Did you know that Leeds was ranked first in value for money for office space? It’s no secret that property rents are starting to rise in the capital as there’s been a 70 per cent increase from 2011 to 2015 alone. Per square metre of office space Leeds knocks London completely out of the park with their £30 compared to London’s £68.50, so the saving you’d make really shouldn’t be underestimated. The savings you make would allow you to reinvest what you’ve saved elsewhere in your business.
The North of England has more than 25 universities of which some are the best learning institutions in Europe. You have a huge selection of graduates to choose from as the majority of them choose to stay in the city they graduated from. Students as a whole are beginning to avoid the south due to the extreme rise in house prices compared to the north which is allowing for the northern talent pool to constantly grow and provide a much better selection for businesses.
Home to several major cities in the UK, sandy beaches and thousands of acres of beautiful countryside, it’s no surprise at all that the north is becoming a hotspot for tourists. The boost in tourism again has the investment in the north to thank as the expansion and rejuvenation has allowed for these diamonds to shine.
From transport to internet speed, the north has some of the best speeds in the UK with London having a lower than national average! These crucial areas provide everything that is needed for a business to be successful, pair that with the cheaper operating costs and the constant investment and you’re onto a winner as a new business owner.
If you’re thinking about starting up a business, it sometimes makes sense to do it in an area you know, we get that, but by looking outside of your scope and analysing the benefits that the north may offer, it could be time to make the sacrifices and start your business in the consistently growing Northern England.