• Top Brexit cities: Key locations for businesses to watch out for

        • Ongoing uncertainty makes it increasingly difficult to predict what the UK business ecosystem will look like or which cities will thrive post-Brexit. Despite this, business owners are keeping their eyes open for new opportunities both locally and abroad while negotiations draw on.

          In a recent survey of over 1000 UK business owners conducted by Instant Offices, 25 per cent say their top priority in the next 12 months is to identify new opportunities in the UK, with 15 per cent looking to new opportunities in the EU and 13 per cent focused on countries outside of the EU.  With the results in mind, Instant investigated which top cities in the UK and Europe are frontrunners for businesses seeking new opportunities post-Brexit.

          According to Brexit Ready by Irwin Mitchell, by Q3 in 2019 the report forecasts that outer London boroughs are set to perform well in terms of employment growth as more businesses move out of the city and into more affordable areas. One of the major advantages of these outer cities is the availability of office space, and the 2018 Flexible Workspace UK Market Summary showed explosive growth in various UK regions.

          With high GVA and employment growth, these locations are the top contenders:

          Fastest Growing (Highest GVA)

           

          Fastest Employment Growth

           

          Cambridge 

          Exeter

          Reading

          Leeds

          Oxford

          Oxford 

          Ipswich

          Stroke-on-Trent

          Milton Keynes

          Bournemouth

           

          While London remains the focal point of the UK’s flexible workspace industry, growth outside of the capital has seen the number of enquiries and deals increase over the last few years. The city saw a 9 per cent increase in the supply of office space compared to Greater London at 12 per cent.

          In regional hubs like Manchester and Leeds, activity remains strongest. At around £690 per desk in the capital compared to £350 in Oxford, £261 in Leeds and £287 in Manchester, London’s outer cities are an attractive location for businesses looking to sample new markets without the added pressure of a conventional lease.

          New figures from the Institute of Directors shows that nearly a third of firms are looking overseas due to Brexit, with 16 per cent having already started relocation plans. 

          Measuring factors such as corporation tax, number of co-working spaces, exporting costs and more, Startups researched the top European cities for start-ups to launch after Brexit.

          While London is the EU’s premiere financial centre, the impact of withdrawal has led to widespread speculation around which cities have the potential to become a replacement. According to a report by the University of Sheffield, while no city is ready to offer a base comparable to London, three cities stand out.

          Top EU Cities for Start-ups

          Most Potential EU Financial Centres

          Budapest

          Frankfurt

          Prague

          Paris

          Lisbon

          Dublin

          Rival cities would need to meet exceptionally specific criteria to compete. Just a few include the ability to attract a global workforce, excellent transport and communications infrastructure, access to prime office space and housing, and a variety of cultural and lifestyle aspects.

          https://www.instantoffices.com/blog/featured/top-brexit-cities/

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