Why is Business in Leeds Booming?
Business in Leeds is thriving. The city has one of the UK’s fastest growing economies and Leeds has been identified as one of five UK cities best placed to ride out the effects of public sector cuts and enjoy a private sector recovery.
There are a number of reasons for this and why the European Cities Monitor has Leeds ranking strongly for a variety of reasons; most notably value for money when it comes to office space, access to markets, low cost and availability of qualified staff.
So why else is business in Leeds booming?
A Strong Foundation for Businesses in Leeds
Leeds is the UK’s largest centre for financial and business services outside of London with 30 international and national banks and just as many call centres serving some of the most established names.
This foundation has been a large factor in attracting and retaining business in Leeds. It also makes the city an attractive option for smaller finance and business services companies. The financial and business services sector accounts for approximately 25% of the city’s GPD and employment.
A Pool of Qualified Individuals to Choose from
In 2010, according to the European Cities Monitor, Leeds improved its offering of qualified staff. Some of this can be credited to having two major universities and also one of the largest teaching hospitals in Europe.
But the city’s thriving economy and employment opportunities also play an important role in attracting talented people to live, work and do business in Leeds.
It means any businesses relocating to or starting out in Leeds will be able to hire the right kind of staff.
Office Space Aplenty in Leeds
The selection of office space available is another reason that business in Leeds is booming. As well as having the best value for money office space in Europe there is also a wealth of choice.
New and refurbished city centre office developments mean there is a good supply of high specification office accommodation available from serviced offices suitable for SMEs and start up companies through to large floor plate offices suitable for large corporate organisations.
As well as this there are business parks away from the centre combining a low cost alternative with all the benefits Leeds offers as a major business centre.
These combined factors are helping to grow business in Leeds and make it the North’s leading business centre.