5 reasons to come and do business in the Midlands…

Located at the geographical heart of the UK, the Midlands region is an exciting place to do business. With an economy worth over £222 billion each year, our industry successes are as diverse as our geography. Our vibrant cities make the region one of the most important economic hubs in the UK – Coventry, Birmingham, Leicester and Nottingham (to name only a few). And our 5 areas of outstanding beauty and “chocolate box” historic towns and villages provide the backdrop for great relaxation and leisure opportunities.

The Midlands has historically been known as the hub of the UK’s manufacturing centre. This is still true today, with 20% of UK manufacturing output coming from the Midlands. In addition, 460k small and medium sized businesses in the region support the manufacturing supply chains to companies such as Jaguar Land Rover, Rolls Royce and JCB.

In addition to our expertise in transport technologies, the Midlands has developed hubs of excellence in food and drink; healthcare and life sciences; energy; creative, digital and design; as well as the business, professional and financial services that have inevitably grown up around these key industries.

So why come and do business in the Midlands?

  1. Affordability

Managing costs are high on everybody’s priority list. The Midlands offers UK and overseas firms the opportunity to do business in the UK at affordable rates. If being near London is a priority for your company, be assured that London is only an hour or so away from many of the region’s larger cities.

Grade A office space in the Midlands offers substantial cost-saving opportunities for firms wishing to locate their HQs here. Typically these types of offices will be priced at up to 60% less than London equivalents. That’s why international companies such as Deutsche Bank, HSBC, Barclaycard and Jaguar Land Rover Finance have all located their HQs in our region.

Other costs of running a business e.g. salaries and professional services are also lower in the Midlands than in the capital.

  1. Connectivity

Being at the centre of the UK (90% of the UK population lives within a 4 hour drive of the Midlands) our region is well connected with road, rail and air travel links. Our three major airports: Birmingham, Luton and East Midlands service the region well for international travel. For businesses wanting to connect with London, Luton airport lies just 40km from central London.

  1. Education & Skills

Our region has a population of 500,000 students. We have 25 universities – 5 of which are rated in the top 26 in the UK. In addition, there are 50 further education colleges. The vital links between educational establishments and industry were identified years ago. Still, increasingly, the courses offered and skills being developed at our universities are linked to the needs of regional employers.

The Midlands region has a rich set of research and innovation assets. 2 of the region’s universities were ranked in the top 10 in the UK for research power in 2014.

  1. Lifestyle

While salaries may be a bit lower than in the capital, the cost of living in the Midlands is significantly cheaper. That’s why this region offers the highest quality of life in the UK. With more disposable income, people living in the Midlands enjoy some of the UK’s most significant tourist attractions; 11 Michelin starred restaurants; food and drink festivals; world-class retail opportunities; over 290 parks and gardens; over 230 museums; internationally renowned theatres, including those in historic Stratford-Upon-Avon; 5 areas of outstanding natural beauty and over 1,800 conservation areas.

So the Midlands really is a great place to relax after a hard week at work!

  1. We are actively seeking new business partners – come and be part of our success!

If you are looking to do business in the UK, consider the Midlands. Our region is the destination of choice for many inward investors and visitors alike…and we are actively seeking more companies to come and do business with us!

Dafferns has been part of the Midlands business community for 120 years. Based in Coventry, we are located at the centre of the region.

We offer clients the reassurance that many of our staff have big UK and international accountancy firm expertise…but with all the added benefits of Dafferns being a well-established, regional firm. And it’s probably not surprising to hear that manufacturing remains a core focus for Dafferns as many of our local and international clients are from within this sector.

We act for a significant number of businesses with an international footprint and assist many foreign businesses with their UK investments and cross border taxation matters. Dafferns provides a full business advisory service to international businesses and tax advice to individuals who have international connections.

For further details about how Dafferns can help you or your business, please contact Andy Bewick, Corporate Services Partner: [email protected].