For many years, London has held the lion’s share of UK business. It currently represents 18.9% of all UK business and more than £1.1 billion was pumped into London’s technology sector over the second half of 2017. Despite this, we are seeing a logistical shift in where businesses have decided to call home.
Leeds is an international city – home to three million people with an incredible workforce of 1.37 million people and a wealth of new talent from the growing student population.
In this assessment of Leeds’ economic and business trajectory, we’ll be discussing Leeds’ ability to commandeer change and persuade businesses to ‘north-shore’. Here are several reasons why the Leeds City Region is an attractive proposition for you to relocate your business to Leeds.
The Leeds City Region has a staggering annual economic output of £64 billion. Over the next 10 years, Leeds’ economy is forecast to grow by 21%, with financial and business services already set to generate more than half of GVA growth over that period. To put this directly, organisations in the financial services sector are at an advantage over industry competitors by having a Leeds presence.
Additionally, over the last 10 years Leeds has accelerated its growth with the help of £4bn development investment. This is spent on developing Leeds into a more connected, skilled and innovative city – Majestic Leeds is playing a part in this.
There is a further £7.3 billion worth of development currently under construction and in the pipeline within the city. The opportunities created by urban growth for businesses are ten-fold, giving the ability to develop new partnerships, progress recruitment opportunities and expand upon your business portfolio.
Leeds is seeing the fastest private sector growth of any city in the UK. It is currently home to the highest concentration of internet and telecommunication providers in the country – making it one of the most digitally connected cities to do business in. Its physical connectivity is progressing too with the planned arrival of a state-of-the-art railway station and HS2, which is directly opposite the Majestic, Leeds.
If you are hoping to grow your business and want to dip into the next generation’s talent pool, you would be wise to relocate your business to Leeds. Leeds is home to 210,000 students, who are driving forward innovation across a portfolio of highly-established educational institutions – the University of Leeds boasts alumni including British-American astronaut, Piers Sellers, International Advisor of Education, Ken Robinson, and Olympic gold medal winner, Alistair Brownlee. This is indicative of the high-productivity of Leeds’ educational and professional workforce.
On top of this, Leeds is the country’s most powerful banking centre outside of London, employing roughly 22,000 people, and is the third largest retail destination in the UK.
Whether you are looking for a business location that empowers growth, or you want somewhere that will ensure a happy and driven workforce, Leeds is leading the way.
Benefit from a focused Leeds City Region growth partnership
The final reason that we’ll give you to relocate your business to Leeds is the opportunity to unlock the city’s vast economic potential with the help of Leeds City Region’s Enterprise Partnership (LEP).
The LEP works with public and private sector partners to provide support and funding to help businesses grow, attract new investment to the region and develop the infrastructure required to create jobs and boost prosperity.
What does this mean for your business? You could receive funding and support to develop your workforce, international trade support to help your company break into export markets and digital training to ensure you get more from the internet. In essence, you are given every chance possible to succeed.
If you want more information about the LEP, visit the site here.
And that’s it
Our city is one of the fastest growing business districts in the UK, and the Majestic Leeds is right at the heart of it.