Even though Manchester is well known for its football teams, there’s way more to the city than just sports.
Things are starting to catch up and investors are looking for new places to invest their hard-earned money or savings. Now would be a good time to open a business in Manchester, and in this article, we will explain why this might be the right city to do it.
Groundbreaking companies such as The Hut Group, Inmotion Group and Push Doctor are based here.
The mecca of the start-ups
Manchester has proven itself to be very welcoming with start-up and scale-up companies. The city is attracting more foreign capital than any other city outside of London. It sounds like a gateway to making your dream ideas come true.
Start-up companies tend to feed each other, either with direct competition or just plain support. If you are thinking about setting up a new company and you believe you have a unicorn between hands, then you better look at Manchester as your headquarter location. You won’t be disappointed.
Alma mater support
Universities are a huge powerhouse behind business projects, and in Manchester city, you will notice how they support not only their graduate students but also young entrepreneurs. The University of Manchester, the University of Salford, and Manchester Metropolitan University are feeding with capital, resources, and graduates to businesses in the area.
The student count, combined between all universities is close to 5000. The University of Manchester offers 2000 pounds to its students and recent graduates to explore an early-stage start-up idea of a business through the Nick Sanders Kickstarted Award.
They offer the same amount of money through the Flying Starter Award to staff members of the university.
To sum it up, we are talking about almost 5000, educated, hungry for ideas students that are willing to invest their skills and talent into exciting fresh ideas.
A co-working hub is opening at Manchester University as well. With a £1.5 million invested, the university is supporting new start-ups and giving them a place to grow. They expect to host 10 start-ups and increase that number to 18.
The University facilities are also available for students to investigate and grow ideas into projects. Institutions are involved from the conception of the start-up, not only providing education but going a step further and providing invaluable resources.
The growth of technology in the city
Tech Nation has stated that Manchester has experienced a 20% growth in the technology capital, making it the biggest growing sector in the city.
The increase of companies in areas such as networking, cloud computing and audiovisual services have provided great support for its surroundings business neighbours. This had a huge impact on digital marketplaces, completing the ecosystem of healthy businesses.
Network infrastructure is a must with so many businesses migrating into the digital world. Businesses that once were only running in specific buildings, like the casinos are now able to apply their full potential on the net by online casinos and keep offering the best cashback bonuses, straight from your phone or tablet. In that way, also, you can pay with your preferred payment methods. Reliable networking is key to holding everything together.
Talking about manpower, the difference in cost of living between Manchester and London has proven that you may find more well-qualified labour workers at lower wages. This gives more opportunities for new starting businesses to hire employees and start growing at a faster pace.
The city of Manchester is well aware of these trends of growing companies. They try to encourage new businesses through the Northern Powerhouse initiative. This project gets business entrepreneurs closer to politicians.
This creates a healthy ecosystem where companies are more aware of how public money is spent.
Starting a business is exciting and very rewarding. Now, add a great idea you may have and, if combine it with a supporting city like Manchester, your chances of succeeding are enormous.
You will have support from colleges, you will have a monster of institutions such as the universities lending resources. Also, the most important aspect, the people.
A battalion of highly educated success hungry staff members will be at your disposal.
The city of Manchester is welcoming new companies to keep the machinery working.