- 15th November, 2017
Why choose Manchester for your start-up venture?
33 blog posts
Why start-up in Manchester where the atom was first split, the industrial revolution started, graphene was invented, and is home to the biggest university population in Europe. These points alone set the scene for a serious city where businesses can thrive.
It’s not just the remote working opportunities or inspiring and flexible shared offices in Manchester, like us at Workplace, that attract new entrepreneurs. Manchester has one of the highest start-up rates in the North West.
Ask entrepreneurs, like those in our vibrant coworking space, why they started a business in Manchester and some might say it’s simply the nearest city to their home location or they came to university here. Others tell a very different story; Manchester is becoming the chosen destination for new businesses and modern working. Here’s why:
Access to human resources
Firstly, there is access to amazing talent in Manchester, especially where tech and creative industries are concerned. With a student population exceeding 100,000 there is a ripe opportunity to snap up the best talent.
The cost of living in the city centre is not the lowest in the North West, but it is still much more affordable than other cities London or Leeds. With good public transport links and a thriving city centre community of house sharers, the net for talent resources is ever increasing.
Approximately 2.73 million people live in Greater Manchester, of which 1.76 million are of working age (16-64). Out of this, almost 40% are educated to NVQ level 4 or above.
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Manchester is the 2nd largest city economy in the UK so there are great opportunities for businesses to capitalise on its resources and market opportunities. It has invested heavily in the tram system and has fast links to other cities with a 2 hour train connection to London and an international airport flying to over 220 destinations.
With all the talk of technology and creativity, Manchester is gearing itself up to be the tech city of the UK. Don’t, however, think that if you are not in these industries there is nothing for you. This brings ancillary business from the tech world such as financial, legal and support services. New businesses always need supplementary support so there is a huge pool of new entrepreneurs eager for help.
Outside London, Greater Manchester is the UK’s main centre for business, financial and professional Services with 324,000 employees and generating £16.2 billion annually.
City of creativity
For centuries, Manchester has been the city of innovation and hard work. As start-ups get priced out of the London market, the much lower cost of living and working in Manchester becomes more attractive.
Greater Manchester has the largest creative and digital clusters in the UK, employing over 65,000 people and generating £3.1 billion each year. The 200-acre MediaCity houses parts of the BBC and ITV, amongst others, and has given Manchester a serious reputation to rival London in film making, media and creative sectors.
Manchester is a vibrant and resilient city, known as an influencer for social change and it is working hard to make sure that new business is supported in the city. As a result, there are many new hubs for small businesses and coworking opening. There is something for everyone, some offering occasional desk rental and coworking, through to dedicated desk hire and small offices with business rates relief. For relatively low cost of entry, a start-up or remote worker from a larger company can now have a very impressive shared office in Manchester to work from.
Increased business funding
Due to the amount of new start-ups, national business support has been increased, with the government increasing funding into the area.
The new city mayor is set to make a huge difference to business support and Andy Burnham is certainly talking a good story so far. He is asking Manchester to focus on Manchester, and keep our determination on our own business of creating and scaling up enterprises. Manchester is doing its job and there is plenty of support out there for business start-ups. Some resources for you to look at are:
What does Manchester need now?
Talk to anyone working in Manchester and they’ll almost always say they love it. They use words like vibrant, supportive, friendly, forward-thinking. But the one thing everyone will tell you is that more finance needs to come to Manchester from London. Funders seem less likely to take a risk outside of London and only one thing will change this — PR.
Manchester needs to shout louder and more often about the great potential in this city and the great things that are taking place. We need to open the eyes of our capital city, and the rest of the world, to the advantages of investing and taking a chance on this great city. It is time for all us Manchester businesses to get on our soap boxes (or Boddingtons beer crates!) and continue telling our stories of modern business, hard work, success, and community. Our shared workspaces are the best place to start if you’re starting your own business and need a professional environment without the cost of fixed office rent. Read more about our work space in Manchester, and see why our coworking space is the ideal location to launch your start-up venture.
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