Are you an entrepreneur searching for a promising location to establish or expand your business? Look no further than the North East! Nestled in the eastern corner of the country, this region is often overlooked when it comes to economic potential. However, beneath its serene landscapes and rich cultural heritage lies a thriving business hub with numerous advantages. In this post, we will explore why the North East is a great place to do business and why you should consider it for your entrepreneurial endeavors.
The North East enjoys a strategic geographic location, with easy access to major cities such as Newcastle, Durham, and Sunderland. Its proximity to Scotland, Yorkshire, and the Midlands makes it an ideal base for companies looking to reach a wide customer base. Additionally, the region boasts excellent transport links, including an extensive road and rail network, as well as international airports. This connectivity ensures efficient distribution channels and seamless connectivity with national and global markets.
One of the North East’s key strengths is its highly skilled and educated workforce. The region is home to several renowned universities and educational institutions, producing a steady stream of talented graduates across various disciplines. Moreover, the North East has a strong heritage in industries such as engineering, manufacturing, and digital technology, providing businesses with access to a pool of experienced professionals. The workforce’s dedication, adaptability, and strong work ethic contribute to the region’s favorable business environment.
Supportive Business Ecosystem:
The North East boasts a vibrant and supportive business ecosystem that nurtures entrepreneurship and innovation. The region is home to numerous business incubators, accelerators, and co-working spaces that provide valuable resources and support to startups and SMEs. Additionally, organisations like the North East LEP (Local Enterprise Partnership) and the North East Growth Hub offer guidance, funding opportunities, and networking events to foster business growth. The collaborative nature of the North East’s business community creates a fertile ground for collaboration, partnerships, and knowledge sharing.
Compared to many other regions in the UK, the North East offers competitive costs of doing business. Office spaces, commercial properties, and living expenses are relatively affordable, allowing businesses to allocate their resources efficiently. Lower overheads combined with access to skilled talent make the region an attractive destination for startups and businesses seeking to optimise their cost structures without compromising quality.
While historically known for its heavy industries, the North East has diversified its economic landscape. Today, it hosts a range of thriving sectors, including advanced manufacturing, technology, digital media, life sciences, renewable energy, and professional services. This diversification ensures that businesses across various industries can find opportunities and support to thrive. The region’s commitment to innovation and emerging technologies further positions it as a frontrunner in sectors such as artificial intelligence, robotics, and clean energy.
The North East offers a compelling proposition for entrepreneurs and businesses seeking a supportive and lucrative environment. Its strategic location, skilled workforce, supportive business ecosystem, competitive costs, and diverse industries make it an excellent choice for establishing or expanding your business. As you consider your options, don’t overlook the untapped potential of the North East. Discover the region’s hidden gems and unlock a world of opportunities for your business.