Why Manchester is a great place to open a small business

We live in the age of the multinational corporation, where entities such as Google, Amazon and Apple retain an incredible influence over business markets and the everyday lives of customers.

 

However, it would be wrong to overlook the importance of small and independent businesses, which combine to create the single most important economic engine in the UK. These entities accounted for a staggering 99.3% of all private sector firms at the beginning of 2018, for example, whilst also employing 60% of all staff in this niche.

 

This trend has undoubtedly grown on the back of cities like Manchester, which has benefited from significant investment over the course of the last decade and emerged as a spiritual home for aspiring entrepreneurs. With this in mind, here are some reasons why you should consider starting a brand new business in Manchester:

 

1. Manchester has Seen a Huge Spike in Active SMEs of Late

 

Since 2010, Manchester has seen an incredible 36% rise in its number of active SMEs, as entrepreneurs have flocked from around the UK to capitalise on the city’s sustained economic growth.

 

In fundamental terms, this has translated into a 27,000 boost in employment, whilst underpinning regional growth and increase the amount reinvested into the economy as a result.

 

In total, the city’s enterprises will help to generate an estimated £12 billion annually for the Manchester economy by 2020, which will place it first nationally for SME growth and expansion.

 

2. Manchester is a Prominent Creative and Technological Hub

 

Whilst Manchester has always sat at the forefront of innovation in the UK, it has really taken centre stage in the digital age.

 

In fact, it’s now fully established as the second-largest hub for creative and technological enterprises in the UK, whilst it’s also recognised as the nation’s fastest-growing and most productive city.

 

To this end, an estimated 72,135 people are currently employed in creative and digital companies in Manchester, and this number is likely to increase further in the near-term.

 

This is music to the ears of ambitious entrepreneurs, particularly those that work in sectors such as marketing, fintech and software development.

 

3. Manchester Boasts Exceptional Transport Links

 

Whilst Manchester may be situated in the north of the UK, it also boasts a relatively central location that has excellent transport links with the rest of the nation.

 

The city also has a vibrant retail sector, which draws shoppers from all over the UK and provides a large audience for businesses to target.

 

This enables Manchester-based firms to operate a nationwide business model with the minimum of fuss, whilst also using courier firms like TNT to distribute goods all over the UK.

 

When coupled with Manchester’s vibrant and energetic atmosphere, this creates an appealing proposition for any entrepreneur regardless of their current location.