Many entrepreneurs and business owners automatically associate London with business success and the ideal location. However, this is changing business up north is booming.

Social Mobility

The assumption that business is all based in the south has a dramatic impact on social mobility. People living in areas where social mobility is easy, such as London earn twice as much as those where it is most difficult. In some parts of England, those from more well-off families/ areas automatically have an advantage on those from less well-off families, no matter how well they did in education.

Opportunity is not spread evenly in the UK

However, this does not need to be the case and a growing number of business owners are looking to the north to host their business headquarters.

Companies such as WANdisco, a £400m computer company employing 300 people which has its European headquarters in Sheffield.

“Most of my friends in London thought it was some kind of staged joke”

David Richards, Founder of WANdisco.

After working in the US and forming WANdisco, when David wanted to bring the firm home to the UK, he chose Sheffield for the firms European headquarters. Mr Richards also states that ” the private sector, in particular, needs to recognise you can’t just create companies solely in London”.

Basing his business up north and sponsoring a course at Sheffield College, which trains students for careers in computing means Wandisco is contributing to real change in Sheffield.

The Impact Of Locating Big Business Up North

When large and successful businesses choose the north as their base it provides a world of change for those who live there. The creation of jobs, a boost to other local businesses such as cafes and shops and the creation of opportunities for young people all contribute to this.

However, this won’t happen without change. Both the government and private sector must recognise that businesses must not be solely created in London. Encouraging an increase in business up north will provide more opportunities and the chance for social mobility across the UK.

The Impact Of Locating Big Business Up North

When large and successful businesses choose the north as their base it provides a world of change for those who live there. The creation of jobs, a boost to other local businesses such as cafes and shops and the creation of opportunities for young people all contribute to this.

However, this won’t happen without change. Both the government and private sector must recognise that businesses must not be solely created in London. Encouraging an increase in business up north will provide more opportunities and the chance for social mobility across the UK.

Greater Success In The North

Whilst there are many positives to be found for the local community when a business decides to base themselves up north, the advantages for the business themselves are also huge.

The cost of living in the North compared to London is considerably lower which means that running costs are also lower.

For example; Rent is over 50% cheaper in the north and utilities are 20% cheaper. Additionally, studies show that local purchasing power in the north is 11.87% higher than in London, which means better rates from suppliers.

Business Support And Events

There are also a wealth of opportunities and support for businesses looking to locate in the north. That’s why the trend for business both new and established are flocking to the area.

11,000 new business were formed in the north-west in 2019.

“These figures are a celebration of the enterprise culture within the North West. Start-ups create new jobs and prosperity and drive innovation.”

Paul Barber, North West Chairman of R3

An exciting range of business events happen every year in the north-west.

The Northern Business Expo

The Northern Business Exhibition is held in Manchester every year and for thousands of business owners, directors, professionals, start-up’s and entrepreneurs it is a proven, simple way to stay relevant, get connected and achieve more. It’s now the biggest business event in the North of England.

There are always an inspirational range of speakers to discuss their success stories and provide tips and support to those who attend. The event is a fantastic contribution to help the northern business status to grow and thrive.

The Good Business Festival

The world is changing, and business is responding. The Good Business Festival is part of a global movement that believes in the power of business to affect positive change.

Now more than ever the future is unpredictable, but one thing is certain; business purpose is under the spotlight. The Good Business Festival is focusing on reflecting on the effects of Covid19, reassessing business priorities and preparing to tackle what will happen next.

Business Support

Boost, based in Preston is a growth hub supporting over 6000 businesses, funded by the European Regional Development Fund.  This fantastic service has programmes supporting start-up businesses, business growth and mentoring and a dedicated service which helps businesses navigate public and private sector business support. Boost also hosts regular free business support events covering subjects ranging from improving customer service to finance and marketing.

Travel And Working Together

The north is also a pioneer of collaborative working and has many coworking spaces and flexible offices. Travel to other parts of the country is constantly improving and you can travel from Preston to London in just over 2 hours. This is also set to improve upon the completion of the HS2. Created to provide high speed travel between 8 out of Britain’s 10 largest cities and their regions: Birmingham, London, Leeds, Manchester, Liverpool, Sheffield, Edinburgh and Glasgow.

The HS2 will contribute to making change when it comes to business division between the North and South. The high-speed rail route will “help re-balance the country” serving over 25 existing and new stations across the UK.

Ready To Do Business Up North?

The UK is changing in the wake of the pandemic, and now more than ever business are changing to. The traditional ways of ‘doing business in the city’ are being swapped for a more innovative and inclusive way of working. The economies in cities such as Manchester, Preston, Liverpool and Leeds are growing at a higher rate than the rest of the UK. In fact, Greater Manchester has more multi-millionaires than anywhere in Britain outside London.

Innovation, collaboration and flexible working are at the core of our values here at Wrkspace. From serviced offices to commercial units, boardrooms to breakout space, we have the facilities to help improve your business. Take a look at our locations and solutions to find your perfect business home.