When it comes to a prime location for businesses, Manchester can be considered a hotspot, the MEN reports.
Described as the ‘original modern city’ due to its industrial heritage and its status as the birthplace of the computer, Manchester has both the history and the modern dynamism to make is a sure bet for business investment.
Many international firms have voted with their feet, when it comes to the potential of Manchester – world-class organisations like Google and the BBC have offices here, as do key national players like the Co-op.
The report also stresses the affordability of Manchester, which is exactly what makes it so attractive to domestic and foreign investors. In contrast to the cost of rents in London, Manchester is comparatively affordable, allowing businesses to plough the surplus funds back into their day-to-day activities, therefore aiding business growth.
The city received the UK’s most foreign direct investment after London in 2015, outperforming the likes of Edinburgh, Leeds and Birmingham.
The Chief Executive of Manchester Council, Sir Howard Bernstein, has said: ‘Manchester is increasingly becoming recognised as a compelling proposition for overseas investors, not just the most attractive option outside London but a genuine alternative to it.
‘We are recognised as a dynamic, outward-looking international city and we are working hard to continue to attract such investment and reassure investors that, Brexit notwithstanding, we will remain a safe place for them to back’.
It’s not for nothing, then, that Manchester is considered to be the UK’s second city in business circles – which will serve us well in the face of the uncertainties associated with Brexit.
Excitingly, the US continues to consider Manchester a key business partner – MIDAS (Manchester’s inward investment agency) reported that last year, a quarter of the FDI projects that it backed were from the US. Not only that, but more and more parts of the world are beginning to invest in the city, with 13 countries contributing to Manchester’s FDI in 2014-15, rising to 22 in 2014-15 and 26 in 2015-16.
The article stresses the importance of Manchester’s transport infrastructure in helping to encourage new investment – from the closeness of Liverpool’s docks to Manchester International Airport and the exceptional road and transport links in the region. MIDAS sees the potential for 14,000 new jobs to be created in the city going forward as a result of foreign investment and the large workforce living within commuter distance of the city.
All these reasons indicate that if you’re looking to invest in UK property, you can’t go far wrong with Manchester, where competitive prices meet a large workforce and the potential for future growth.
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