Manchester, often referred to as the ‘Northern Powerhouse,’ as we all know, has been steadily gaining recognition as a top business location in recent years. In 2023, this trend continues to surge as the city becomes an even more attractive destination for companies and entrepreneurs. But why is Manchester a top business location in 2023, and why should you consider establishing your business in the area? Here are the answers to some of your main questions surrounding Manchester’s rise as a top location for business.
What makes Manchester so appealing to businesses?
One of the key factors that make Manchester an appealing business location is its strategic geographic location within the UK. Situated in the heart of the country, it offers excellent connectivity to other major cities like London, Birmingham, and Liverpool. The city boasts a great transportation network, including an international airport and a major railway hub, making it easy for businesses to access domestic and international markets.
The cost-effective environment
Compared to London and some other major UK cities, Manchester offers a more cost-effective environment. For example, the cost of living and office space is generally lower, allowing businesses to operate with a competitive edge – in fact, you can find serviced offices and units to rent at a generally lower price in many areas of the city. Additionally, government incentives and support programmes for startups further sweeten the deal for entrepreneurs.
A thriving business ecosystem
Manchester has a vibrant and diverse business ecosystem that caters to various industries. It’s home to a wide range of sectors – including technology, finance, healthcare, and creative industries. This diversity creates opportunities for collaboration and innovation, making it an ideal destination for startups and established businesses alike.
Investment in infrastructure
In recent years, Manchester has seen substantial investment in its infrastructure. The city has undergone a significant transformation, with new developments, office spaces, and residential areas popping up across the city! The commitment to enhancing infrastructure has made Manchester an attractive place to set up and expand businesses.
Education and talent pool
Manchester’s universities are renowned for their quality and research capabilities. The presence of institutions like the University of Manchester and Manchester Metropolitan University ensures a steady stream of skilled graduates in various fields. This talent pool is a valuable resource for businesses looking to recruit top-tier employees.
Cultural and quality of life benefits
Beyond business, Manchester offers a rich cultural scene and a high quality of life. The city is known for its music, arts, and sports, with a thriving cultural calendar that attracts talent and visitors from around the world. This vibrant atmosphere can enhance the work-life balance for employees and provide a unique backdrop for client meetings and networking events.
Supportive business networks
Manchester boasts a plethora of business support networks and organisations designed to help startups and established companies thrive. These include accelerators, incubators, and chambers of commerce that offer guidance, mentorship, and access to funding opportunities.
The city’s leadership is forward-thinking and committed to fostering business growth. They actively engage with the business community to understand its needs and address challenges, and this collaborative approach has helped Manchester build a reputation as a city that is responsive to the demands of the modern business world.