Start-up businesses are increasingly finding it difficult to gain a foothold in the London property market. High rents and massive local competition are just two of the factors that hinder entrepreneurial success.

This has led to a growing number of businesses seeking to relocate outside the capital, with Manchester, Leeds, and Birmingham favoured destinations. All these locations offer cheaper leases and an affordable lifestyle, while still maintaining good transport links to the south.

Birmingham especially has emerged as a leading contender for the start-up crown, and was recently voted the most enterprising place in the UK outside of London. The city, and the Midlands in general have a wealth of business opportunities available.

Here are some reasons why Birmingham might be an ideal location for your start-up.

The Midlands Engine Project

In March, the UK Government announced a 392 million pound investment in the Midlands Engine Project. This scheme intends to improve transport links, upgrade education facilities, and regenerate neglected areas across the Midlands.

As Birmingham is the 'capital' of the region, it will see much of the benefit from the project. By basing your business here ahead of this investment, you would stand to take advantage of the economic prosperity it will bring, and be part of an exciting time for the area.

Good Economic Growth

The latest economic figures show that the Midlands economy is already outpacing most other regions in the UK, with growth levels nearly 50% above the national average. Productivity has also increased, with manufacturing and service sectors leading the way.

This is a great reflection of the current business scene, and with many opportunities still to exploit, it illustrates the potential gains ahead.

Education Powerhouse

The University of Birmingham is a true centre for education excellence. It is one of the top six UK universities which are targeted by the country's biggest graduate recruiters, ranking it alongside Cambridge and Oxford. In addition, it is the third most prolific university for producing the most CEO's.

Both of these facts make it a superb facility to have nearby - a convenient supply of talent that could benefit your company...

Entrepreneurial City

Birmingham saw itself awarded the status of 'most entrepreneurial city outside of London' by the Startups website, having secured 2 million pounds in loans from The Start Up Company during 2016. This figure was more than double the amounts given to new companies from Leeds or Manchester.

However, this is not just a 'one-off'. In 2015, the city was again at the forefront, with 18,000 new businesses registered.

Transport Links

The massive HS2 rail project will revolutionise train journeys across the UK, reducing travel times between regional cities and London. Birmingham is set to benefit from this scheme in a major way. Not only is the HQ based in the city, but the first phase of the project will see the London to Birmingham section developed years before the northern phase of the scheme. This will obviously give companies located here a large trade advantage over their Manchester, Leeds, and Sheffield based rivals.

Pall Mall Estates have a wide range of low cost commercial properties across the UK. Take a look at our available spaces here or get in touch with our experienced team here.

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