The location of any business matters, no matter its global scope. In the UK, the average Brit thinks that Manchester is a great place to kickstart a small business. This is considering that there are so many factors about Manchester City that promises to make a business thrive. Some of the factors are discussed subsequently.
Awesome business support
Without robust support, no business can scale up profitably. Small businesses need all the support they can get before they grow into giants. In the 2018/2019 report by the European Cities and Regions of the Future, Manchester was regarded as the friendliest city for business. The city has a large support system. For instance, there is the Business Growth Hub which provides services such as connections with business advisors, partnerships with universities, classes and workshops within your niche, etc. the Hub is sponsored by international programs, so their services are free. The Manchester City Council also provides sound business advice and helps you to stay updated about both local and national events. They also provide zero-cost access to business databases and publications. The University of Manchester provides professional courses and research partnerships. There are tech-focused companies and other groups that can help your business as well.
Affordable living costs
As it is generally known, no business can thrive in an environment where the cost of operation is not minimal compared to the gains made. The capital of England is considered the major economic powerhouse but not without its disadvantages to business owners. The costs of working and living in London is on the high side. As such, entrepreneurs may find it difficult and highly expensive operating a business there. Manchester is not bad for running a business in terms of physicality; it has a flourishing labour force with diversity in culture and a highly developed transportation system that is cheap for entrepreneurs. The office places are flexible, convenient and cost less compared to London’s. The cost of housing in London is almost triple that of Manchester. The standard of living in Manchester is a beautiful combination of quality and reasonability in costs. It is indeed the perfect city for business.
Available working population
It gets to a time that you need to employ other people to join you in running your business, especially to augment your weaknesses. You cannot groom a business alone, you need the input of others who have the skills and capabilities your business needs. Manchester provides you access to just that. The city has five universities with a total population of over 100,000 students. Some of these universities such as the University of Salford and Manchester Metropolitan University are part of the finest institutions in the country. A business owner will readily get fresh, enthusiastic graduates to work with him. Besides a large number of highly educated ones, there are also skilled labourers you can hire. If your business revolves around tech and you need talents in tech, Manchester will provide them for you. In light of this, Manchester was rightly considered the sixteenth best city for startups.
In the 2018 Innovation Cities Index, Manchester was rated one of the best tech hubs in the world. Ranked 34th in 500 countries, Manchester undoubtedly has solid innovative infrastructure when it comes to tech. In light of the democratization of education and economy that has spread to various parts of the world, technology has become the backbone of almost all businesses. The businesses founded by this generation are mostly tech companies who provide one service or the other. As such, an innovative tech infrastructure will help a business get ahead in its industry. The increasing availability of high-speed internet, digital infrastructure and reliable mobile internet make Manchester a technological haven for entrepreneurs. You get to experience smooth online business transactions, video calls, etc., not to talk of the many tech talents available.
Spaces for coworking and networking
The market for startups in Manchester is ever-growing. Some of the hubs that accommodate these businesses are MediaCityUK which also doubles as the base of the BBC. This hub has creative studios, modern workspaces, world-class facilities, etc. Other hubs include Manchester and Carrington Business Parks. These hubs contain storage options, conference rooms, low-budget office space, etc. They not only allow startups to work side by side, but they also help them build strong relationships. For instance, due to this networking, their contracts reduce operating costs and leads to collaboration. In general, this has helped Manchester’s commercial industry as both workers and entrepreneurs have a working relationship with each other. If you are looking for a suitable place and time to start your business, Manchester is your go-to and the time is now.