One of the largest cities in the UK, Liverpool plays a significant role in the economy of the country. The city is in the north west of England and is known for its cultural attractions.
Historically, the city developed economically from its major port and the Industrial Revolution, but it is now an established centre of the arts, education and media.
So, with the variety of industries and the recent economic growth the city has seen, this could be the ideal city for your business.
The Trends
The Liverpool City Region Local Enterprise Partnership (LEP) and the Combined Authority are working together on a growth strategy for the region. This is aimed at creating jobs and opportunities in the area and its surrounds.
Apart from industry, the city is also a strong cultural hub. Other than London, Liverpool has the highest number of galleries and national museums than any other city in the UK.
The city, in fact, has a lot of creative and digital firms. The games industry in Liverpool is, in fact, one of the most significant in Europe. The number of creative entrepreneurs is on the rise and these industries are an easy addition to the city.
There is a historic area in the city, the Baltic Triangle, that is drawing in a lot of creative entrepreneurs. Illustrators, photographers, recording studios are all to be found and there is room for a lot more growth.
Liverpool is also home to four universities and, therefore, has a large student population. This means an influx of young people to the city, a large talent pool to draw from and a market for businesses.
Sector Spotlight: Advanced Manufacturing
A large part of Liverpool’s economy is dependent on the manufacturing industry. There are a number of cars that are produced there and other prominent manufacturing companies.
The location of the city makes it an ideal place for manufacturing. The local government has also been accommodating towards manufacturers that set up in the area.
As technology evolves, there has been a focus on pushing advanced manufacturing. Not only are prominent manufacturers encouraged in the region but manufacturing SMEs and start-ups.
Through the LEP, there has been a focus on creating a cohesive approach to growing the advanced manufacturing sector. The region also has resources to assist businesses that are in the digital manufacturing sector.
Is this Area for Me?
One of the most important benefits of running a business in Liverpool is the lower costs- of rent, transport, living- meaning that you can focus on profits for your business.
There are also good transport links that keep the city connected to the rest of the UK and the world. This is particularly useful if you are looking to distribute goods.
The speed of growth in the city has made it an ideal location for any start-up. If you’re looking for an innovative environment, particularly in games development, this is the ideal city for you.
The digital industry is also promising continued growth so you can be assured a great environment for your business into the future. And, with the graduate pool to employ from, you will never be short of skilled employees.
The nature of manufacturing is changing, and Liverpool is ready for these changes. This is an ideal location for investment in start-ups and SMEs in the digital and manufacturing sector.
And, if this describes your business, this city should be high on your list of places to locate it.
