If you’re about to set up a new business, there’s a lot to be excited about. However, you’ll also be aware that it’s an intense task with high demands for acute logistical planning.
For any business requiring office premises, you’ll also need to decide whereabouts could become your new corporate base. In fact, the location could determine a huge portion of its success, depending on the product or service you offer.
Which are the best cities for starting a new business in the UK?
We’ve partnered with corporate banner manufacturers, instantprint to bring you some exclusive statistics, generated by a survey of over 2000 UK employees. We aimed to understand the UK’s thriving business communities – and what makes them tick.
See the results below.
Manchester is a leading contender when it comes to job satisfaction. If you’d like to generate a team that values an active, immersive city culture, this Northern hotspot could be a great choice.
According to instantprint’s study figures from an exclusive workplace study by instantprint, over a quarter of employees rated their levels of work satisfaction as ‘very high’ – with a median weekly pay in excess of £600 per week.
2. Central London
It’s not surprising that London came in at a close second to Manchester.
With higher living wages by default, rates of employee satisfaction were at 26%. Increased prices in the capital saw the average weekly wage sitting at £820, giving workers a springboard for success.
Furthermore, the capital city promises a wealth of entertainment, culture, and opportunity. Living in London offers something that no other city in the UK can compete with – complete freedom to learn, celebrate, and explore.
New businesses nurtured in Oxford show high success rates. This charming university town offers a slightly more laid-back lifestyle and environment for employees, but still provides convenient transport links to London and other major business hubs in the UK.
In Oxford, 25% of employees reported at least a ‘very high’ satisfaction rate – and with a median salary of £687 per week, salaries remained consistent too.
What makes a successful office location?
Our statistics quickly evidenced that the most productive, successful office locations must be conducive to three main pointers for staff:
Evidence suggests that success is often dependent on whether or not the location of your office can improve employee satisfaction.
For example, an office within a city centre would provide ample opportunities for staff to socialise with their colleagues, enriching the working day. Another added convenience is access to open space and supermarkets, which can be a lifeline for full-time staff.
Out of the entire cohort surveyed by instantprint, four in ten employees stated that their salary directly impacts job satisfaction. So, if you set up new business in a location with elevated prices, make sure you can afford to pay your staff what they’re worth.
Lastly, over a third of respondents valued a healthy balance between their working lives and their personal lives. Wherever you choose to set up, always make sure that your employees are offered trust and flexibility.