H1: Manchester’s Thriving Economy: A Study of the Region’s Financial Growth
The northwest of England is home to many successful cities, but Manchester is particularly standing out in recent years. As one of the fastest-growing cities in the UK, Manchester is seeing significant financial growth, thanks to its thriving accountancy and finance sector. As a city that has traditionally been strong in areas such as law, retail, and media, Manchester has become a major player in the global finance industry. The presence of numerous prestigious financial institutions, along with its academic institutions and universities, makes it an attractive place for both established companies and new startups to do business.
H2: Why is Manchester’s economy growing so quickly?
There are a number of reasons why Manchester is experiencing such significant economic growth. Firstly, its location makes it an attractive choice for companies, being just over two hours away from London. This allows firms to tap into the vast networks and opportunities in the capital city, while also being far enough away to keep costs lower and maintain their own identity. Manchester’s connectivity also plays a huge role in its success, with a new High Speed Rail connection set to come into action soon, reducing the journey time between Manchester and Birmingham to just one hour. In addition to these practical considerations, Manchester is also home to numerous prestigious events throughout the year, including the International Festival and the Manchester Pride. These events showcase the city’s vibrant cultural scene and demonstrate to the world just what it has to offer.
H3: Who are the major players in Manchester’s financial industry?
One of the key drivers of Manchester’s thriving financial sector is the presence of major institutions, such as Alliance Manchester Business School and Manchester School of Law. These organizations, along with their many satellite programs and departments, attract a wealth of international students and business talent to the region. As well as its higher education establishments, Manchester is also home to some of the country’s top finance and accountancy firms. Organizations such as Price Waterhouse Cooper, Ernst and Young, KPMG and Deloitte all have strong presences in the city. This talent and expertise makes it an ideal destination for entrepreneurs looking to establish and grow their business.
FAQ
Q: How can businesses take advantage of Manchester’s financial growth?
A: By being based in or near the city, companies can tap into Manchester’s pool of talented individuals, established businesses and a variety of financial and legal services.
Q: Why have financial institutions invested in Manchester?
A: A combination of Manchester’s accessibility, strong business sense, and unique cultural offer, along with government initiatives, such as the devolution of funding to Greater Manchester, has created a positive climate for growth and investment.
Q: What benefits do international companies receive by locating in Manchester?
A: Establishing a business in Manchester gives companies access to a vast, highly-skilled workforce, numerous transportation options and a dynamic environment, while being able to balance the need to be near international hubs.
Q: Which specific sectors have shown significant growth?
A: According to reports from the Centre for Cities, Greater Manchester’s strongest growth areas in 2017 were Financial & Professional Services and Manufacturing & Materials.
Q: Who should look into starting or relocating to Manchester?
A: The ideal candidates would be those from businesses that align with Manchester’s specific strengths in industries such as Healthcare, Media and Creative Services.
Q: How does the Government support businesses looking to establish or relocate in Manchester?
A: The Greater Manchester Combined Authority is actively involved in promoting and developing the local business community through funding initiatives and working closely with organizations like the Business Growth Hub to support innovation, entrepreneurship, and economic growth.
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