Manchester Found to be England’s Top City to Start a Business Outside of London

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    A new report by Barclays Eagle Labs and Beauhurst has found that Manchester is the second best English city to start a business outside of London. The study, which looked at which cities were best placed to start and scale a business, highlighted the north west as a start-up hotspot.

    The study also identified the link between start-up success and economic growth – welcome news for those with an investment property in one of the top-performing regions.


    Factors for business growth

    The report, titled ‘Unlocking Growth’ aimed to identify how to best generate business growth. It explored key factors required to create a healthy start-up environment, including partnerships between the private and public sector to create strong technology ecosystems.

    Other factors included universities, accelerator programmes and business incubators and investment sources such as angel or private equity investors.

    Manchester was placed second in England and third in the UK as a whole, coming in just behind Edinburgh. Pointing to the north west’s status as a new business hub, Leeds followed just after Manchester in the rankings.


    High-growth businesses

    There were found to be 508 high growth businesses in Manchester, of which 209 of these were in the technology sector. In Leeds, these numbers were 505 high growth business of which 137 were in the technology sector.

    Looking at the wider Greater Manchester region, the study found there were 1,213 high-growth business there, with 388 of these being technology firms.


    Economic strength

    The study also uncovered the crucial role high-growth firms – especially those in the technology sector – play in boosting the local economy. A strong economy is an important feature of a good place to make an investment property, so this is positive news for those investing in Manchester property.

    Local authorities that had over 100 high-growth companies had a much higher GVA per person than those that has under 100: £138,000 compared to £22,000.

    This is mirrored by the investment statistics. Investors made £1.7billion in total equity investment into tech companies since 2011. In addition, local government allocated funding to high-tech projects such as the Manchester Digital Innovation and Security Hub (DISH), supported by the Greater Manchester Combined Authority through the Local Growth Fund.

    As well as high levels of investment, there were 53 commercial university research businesses produced by universities and a range of business incubator and accelerator programmes.


    Link to housing demand

    Manchester has already proved itself as a commercial hotspot. Over the past few years, increasing numbers of companies have been “northshoring” to Manchester. And this new study shows how Manchester is also a hub for start-ups, job creation and economic strength.

    Jobs and a booming economy mean population increases, generating more demand for housing. This tends to result in higher returns for people with an investment property. So, based on this study’s findings, now is a great time to invest in a Manchester property.


    Find out more

    To learn more about Manchester, investing in a Manchester property or just property investments in general, contact North Property Group today.

    Call Us:
    Leeds: +44 (0) 113 4264 444
    Manchester: +44 (0) 161 2449 060

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