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Business Confidence & Office Requirements Rise in North West

Business Confidence & Office Requirements Rise in North West

Research commissioned by Yorkshire Bank has revealed that businesses in offices and workshops throughout the UK believe that the UK is still a healthy environment in which entrepreneurs can successfully start and grow a business.

According to the North West Business Insider, the research from the High Street bank comprised of a survey of 80 companies, with the results showing that 76% believed Britain was a good location in which to start a new business, while 71% felt that the state of the UKΓÇÖs economy offered good prospects for investment and growth opportunities.

ΓÇ£As well as actively experiencing healthy economic conditions, British business leaders and entrepreneurs need to feel confident and believe the economy to be moving in the right direction,” explained Brian Colquhoun, Regional Director for Yorkshire BankΓÇÖs IFS business and private banking division.

“Starting a business, or investing to take your business to the next level, is an important personal and corporate milestone which requires a number of factors to be successful.ΓÇ¥

Highlighting the surveyΓÇÖs finding within the North West, it was reported that four fifths of businesses believed Britain remained business friendly – but remained divided other the issue of if business growth would prove harder or easier over the next 42 months.

According to data from however, the largest independent broker to the serviced office space industry here in the UK, the workstation requirements of those businesses entering serviced office space in the key North West business locations of Liverpool, Manchester and Warrington have already increased ΓÇô suggesting that active businesses in these locations have begun or felt able to expanded their office requirements.

Comparing January ΓÇô October 2010 with the same ten month period of 2009, data from the broker, who are the only regular publisher of research from the serviced office industry, reveals a 47% increase in the average number of workstations taken by businesses entering serviced office space during this time, rising from an average of 3.8 workstations per Serviced Office Tenant (SOT) in 2009 to 5.6 workstations per SOT during 2010.

With the perception of a healthy business environment highlighted by Colquhoun as key to entrepreneursΓÇÖ starting and growing a business, could the growing demand for office space recorded in Liverpool, Manchester and Warrington be evidence that businesses are branching out again?

If so, it is the IT and telecommunications industries that the Yorkshire Bank research suggests with be most active, with new products, markets and ideas likely to be developed according to 28% of the firms surveyed, with manufacturing and engineering just behind at 21 per cent and financial and professional services seen as the area for future growth by only 11 per cent.

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Author: | November 23, 2010 | 0 Comments

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