As businesses continue to react and respond to changes in the domestic and global economy, many are seeking new and innovative ways to ensure they remain profitable and competitive in what is an ever-changing business environment.
One of the biggest trends in recent years has been the rise in northshoring – businesses moving all or part of their operations from the South to more cost effective locations in the North.
Here in North East England we’ve become a northshoring success story, with large numbers of businesses moving from the South East to relocate or establish major operations in the region. Companies including Verisure, Xplor Technologies, Accenture. Atom Bank, Oliver Wyman, Ocado, and Just Eat have all established bases in the North East in recent years, and there are a number of reasons why.
The workforce of 1.2 million in North East England has one of the lowest staff turnover rates in the country and lower salary costs compared with the rest of the UK. Famous for its warm personality and accent – the North East is often named one of the friendliest places in the country – coupled with its strong work ethic and adaptability, North East England’s workforce is one of its greatest strengths.
Feeding the pipeline of current and future talent are the region’s five highly-rated universities. Working in partnership with industry, the academic institutions equip the North East’s 129,000 students with the skills and knowledge to lead the UK’s growing and emerging industries.
As more and more employees return to the office, North East England’s abundance of new, Grade A office accommodation provides companies with affordable and flexible spaces to grow. Major new developments include Pilgrim Place in Newcastle upon Tyne and Riverside Sunderland.
Good connectivity is essential to all businesses, and North East England’s road, rail, air and sea links ensure companies are well connected both domestically and internationally.
And with low commute times and an enviable quality of life (it’s entirely possible to leave the office in the centre of Newcastle at 17:30 and be on a glorious white sand surfing beach by 18:30), employees are enjoying a better quality of life and improved work, life balance in the North East.
To find out why more companies are choosing to grow their business in North East England, visit investnortheastengland.co.uk.
