In a recent report released by Instant Offices, in which they analysed Companies House data and “compared population estimates with business growth”, Manchester was deemed to be the UK’s second most entrepreneurial city.
Pipped to the post only by Brighton, Manchester boasts 32,934 businesses launched in February 2017 (an increase of more than 12,000 from the previous year) and was given an entrepreneurial index of 11%. Particularly since the Government first announced its plans for a Northern Powerhouse in 2015, Manchester has seen astonishing business growth with many well-established businesses expanding to the city as well as 4,700 new start-ups born in Manchester in 2016 alone.
This report seems to confirm what we already know; Manchester is the place to be if you want your business to flourish. There are hundreds of networking opportunities daily and just one look at the changing skyline shows the rising number of premises available for businesses of all sizes. Add to that the injection of funding from the Government’s Northern Powerhouse scheme and the election of a metro mayor for Greater Manchester bringing more powers to the region and it’s not hard to see why Manchester was placed so highly.
Other Northern cities also made the list; Newcastle, Liverpool and Leeds were ranked 5th, 13th and 14th respectively. This shows the shift in the entrepreneurial power balance between the North and the South with London no longer dominating (the Capital found itself placed at number 12 in the rankings).
If you are looking to start a business in Manchester, or move premises to the city, the corporate and commercial teams at Farleys Solicitors can help. We are based in Manchester city centre so have the local expertise. Call us on 0845 287 0939 or email us for comprehensive legal advice tailored to suit you and your business needs.