As the capital of the United Kingdom, London is a busy place. It’s overcrowded with all the big corporations and the other companies competing with each other. If you are considering opening up a new business, London may be the first place you consider but it may not be the best place you could choose. Many new and expanding businesses are now moving to the northern cities, and Liverpool especially is positioning itself as the new place to be. Liverpool and Merseyside offer many benefits including:
The cost of renting an office building, industrial units or retail shops in Liverpool is cheaper compared to London. In general, the cost of living is much more affordable in the north of England. The housing, food, and transport are also cheaper than in London and many other cities. By choosing Liverpool as the location for your business, you will be able to keep your business costs down allowing you to maximise your profits.
Location and transport links
Liverpool is a fantastic location for doing national and international business.
From the Central Station, you can go anywhere in the UK. It only takes two hours to get to Euston and 30 minutes to get to Manchester. It is very easy to get around Liverpool. There are very good transport networks in this city. You can get around the city using the train, bus routes and even the ferries. The Merseyrail runs very often throughout the day making everyday commuting very easy.
Liverpool is also a great location for distributing goods worldwide as it has excellent access to major motorways going north and south, as well as seaports and the Liverpool John Lennon airport.
Liverpool University and Liverpool John Moores University are renowned for their achievements, especially relating to Biosciences and Engineering. Liverpool Hope and Liverpool St Johns are also great universities and you can find outstanding talent graduating from these universities. Each year, they attract many international students. As the living cost of living in Liverpool is low and many businesses are now shifting their operations here, the graduates tend to stay here and seek employment, so you have a good opportunity to hire skilled employees for your business. About two million people live within one hour distance of Liverpool so you can find a wide range of talent for your business.
Liverpool is the second fastest growing city in terms of digital technology. The ‘games development’ niche is very prospective here. A lot of start-up companies are operating here. There has been a 119 percent growth rate in the digital industry in Liverpool compared to 92 percent in central London. So, the digital industry will grow faster in Liverpool and the salaries of employees will also be higher compared to that in other cities. There are coworking and incubator spaces in Liverpool which gives start-ups the opportunity to grow their business.
Opportunities for innovation
In Liverpool, there is the Knowledge Quarter. Here great minds in various sectors like health, science, education, technology, etc. work to come up with something creative. Many companies collaborate with the team in the Knowledge Quarter to come up with innovative solutions. There are great opportunities available here and you can collaborate with others to achieve something big. So, if you are thinking of coming up with a new product, then the Knowledge Quarter might be the best place to start. If you have a new product or service, you will have less competition in the market and you will get a chance to become the market leader in the niche.
Growth in the housing and tourism sector
Liverpool is one of the most visited cities in the UK. It attracts more than 54 million visitors every year. The restaurant business is also flourishing as a result of this. More people are living in Liverpool now and about 3,000 homes must be built every year to keep up with the demand. Now there is a low supply of housing, so there is huge opportunity to invest in this sector. More and more tourists are arriving every day in Liverpool. The city is very rich in culture and there are lots of things to see. Lots of new business opportunities pop up because of the tourists. The hotel and restaurant businesses are very profitable here. You can focus on business within this niche and invest in Liverpool.
Ease of doing business
Liverpool is known to be the second friendliest city in the UK. The city is very welcoming to tourists and new people who come to live here. So, once you set up a business here, many people will give you the support you need to run your business successfully. You will get all the information necessary for your business to grow and compete with the others in the market.
There are beaches, parks, lovely skyscrapers, etc. making Liverpool a great place to live in. There are great beaches located around Liverpool and Merseyside, and it only takes 15 minutes to get to the some beaches from the city center. You can also get to other cities like Leeds and Manchester very easily.
Liverpool is attracting lots of new businesses with its strong economy, which makes it a very attractive place for businesses to invest. It is also a great place to live and grow your family. In future, it will become one of the leading hubs for businesses and there will be headquarters of many big corporations here. So, for your business, Liverpool might just be the best location.