A new report looking into the strengths of the current UK business landscape has discovered the emerging ‘capitals’ of British business.
The report, published by the Lloyds Bank National Business Awards, has highlighted the new business capitals that offer distinct advantages which help drive success and growth within specific specialist sectors. However, even outside of the five identified areas, there’s still good news right across the UK.
Whilst London is undoubtedly one of the world’s most famous financial hubs, Birmingham (connectivity), Cardiff (talent), Leeds (affordability), Plymouth (digital) and Brighton (start-ups) are the five main newly identified business capitals. The study, amongst over 850 senior business decision makers, also identifies Bristol (80%), Brighton (76%), Norwich (75%) and Cardiff (70%) as areas with the fastest growth.
In 2017, Plymouth launched the STEM Plymouth Strategic Plan, which is designed to drive the development of science, technology, engineering and mathematics, and establish itself as the South West’s leading city in the field. Professor Kevin Jones, Chair of the STEM Forum, said: “Plymouth’s vision is to become a thriving, innovative international ocean city with science, technology, engineering and maths driving the region’s growth and productivity.”
One year on, more than a third of Plymouth-based respondents (35%) said that the city’s large number of digital businesses are driving growth in the area, and one in five (21%) said that an investment in digital skills such as coding is also a factor.
As well as the areas seeing the most business success, the report also found that two-thirds (66%) of senior business professionals find it easy to attract and retain talent, with larger businesses (701-1000 employees) finding it easiest (73%). Further, HR (86%) and technology firms (80%) find talent retention the easiest. Businesses reported competitive salaries (47%), affordability (46%) and young people choosing to stay in the area after university (43%) as the best ways to keep top talent.
The report also revealed the most awarded areas of the UK, with award winning businesses reporting a boost in morale (57%), increase in customer trust (51%) and boost for industry recognition (47%).
According to the number of good quality applicants who reply to job postings, Britain’s best talent locations are, Birmingham, Glasgow, Norwich, London and Leeds.
The Lloyds Bank National Business Awards is now in its 17th year, and is the UK’s most prestigious and independent awards programme. It recognises and rewards enterprise excellence, innovation and also ethical practice in the UK, across all industry sectors.
“Your business has a story to tell – and we want to hear it. We’re committed to recognising and rewarding the best of British business,” said Sarah Austin, Brand Director of The Lloyds Bank National Business Awards
Entries for the awards are now open, push your company into the limelight and give it the recognition it deserves. Find more information at www.nationalbusinessawards.co.uk.