Cost-effective alternatives to setting up in a big city in 2019
Starting a business can be an exciting time but it doesn’t come without its challenges. The cost of rent, consumer demand and competition are all factors SMEs need to overcome on top of financial pressures.
However, many business owners believe that in order to be successful, they need to be located in a big city despite improved communications, thanks largely to the Internet. This simply doesn’t have to be the case – there are plenty of cost-effective alternatives to setting up in a big city.
Setting up a business ‘up north’ often comes with a cheaper price tag. However, with some of the bigger northern cities such as Manchester and Leeds, you might still find high fees when establishing your start-up.
Rather than setting up shop in a city, take a look at up and coming districts, such as Wakefield. With affordable living spaces, a choice of relaxing country views or socialising in restaurants and boutiques, Wakefield offers the best of both worlds. And with excellent transport links to Leeds and the rest of the UK, Wakefield is a great cost-effective alternative for new businesses.
One of the UK’s top up-and-coming towns is Warrington, which has recently seen the fastest economy growth across the country The town is undergoing major regeneration, including the development of their Enterprise Zone, making it an ideal location for start-ups.
There are also plenty of well-established businesses already located in Warrington, from the telecoms industry to design, making it a diverse base for business. Warrington also offers strong motorway links, access to two train stations, and it’s within easy reach of both Manchester and Liverpool airports.
All new businesses struggle when starting up. It can be difficult to go it alone, and often new entrepreneurs need guidance and support, from growth to networking. Durham is a great location for new businesses, and despite being a smaller city it’s filled with resources for businesses in the North East.
From business support to financial support to access to a networking community, Durham provides plenty of resources for SMEs. You’ll also have access to talent, with Durham University providing a range of highly skilled graduates. SMEs can also benefit from a lower cost of living in Durham, as well as having access to strong transport links to larger northern cities such as Newcastle and Leeds.
Despite its small start-up scene, there are plenty of reasons to start-up your business in Milton Keynes. Location is obviously an important factor in determining a start-up’s success and Milton Keynes provides convenient access to multiple cities including Birmingham, Oxford and of course the capital, London.
The town is home to a growing number of businesses looking for more affordable premises than in London. Office Space in Milton Keynes is considerably cheaper than that of the capital, so it’s no wonder to see why the area has one of the highest start-up business rates in the country. Start-ups in Milton Keynes can reap a lot of similar benefits to those in London all for a lower price tag!