One of the basic considerations of starting a business is location. You need to base your company in an area which allows you to both access your target market and recruit talented employees, to promote expansion. You may want to consider setting up your company in the walled-city of York.
Business hub
York has served as a major national trading hub since Roman times, due to its desirable location on the confluence of the rivers Ouse and Foss. The city continues to thrive in the modern era, with strong services, finance, information technology and tourism industries, as well as robust public and education sectors. Therefore, should you set up your business in York, you can develop the strong partnerships across complementing industries, which you need to supply a comprehensive service.
Talent supply
The diversity of York’s economy means that the city boasts a strong talent pipeline, allowing you to recruit the best and brightest, across various sectors. York is home to both York University, which was listed as the UK’s 17th best in the Times and Sunday Times university league table 2017 and York St John University. With student populations of around 16,000 (York University) and 6,500 students (York St John University), these institutions could provide your business with top talent for years to come.
Travel links
It is key that you select a location with good travel links, so employees and clients can reach your firm easily. York is well-connected to some of the North’s most vibrant cities. It is possible to travel by train from York Leeds, Manchester and Sheffield in 20 minutes, 80 minutes and an hour respectively. The city is just over two hours away from London by train, giving you access to the UK capital’s booming economy and is just a 50 minute drive away from Leeds-Bradford airport, facilitating easy global travel.
Office space
It is also easy to find cost-effective office space in York. A prime example is the A-graded York Eco Business Centre in Clifton Moor. It houses 63 office and studio spaces, available for low-cost, flexible leases, a communal kitchen and meeting rooms, providing you with ample networking opportunities. There are also a range of business parks surrounding York, like Escrick Business Park, while you can find co-working spaces like Blake House in the city centre, providing a wealth of office space options.
Critical funding
Another issue to keep in mind, when setting up a business, is funding. You will need to secure access to a steady stream of capital, to bankroll operations. There are no funding programmes specifically for start-ups in York, but North Yorkshire supplies a range of ongoing business grants, including:
- The York, North Yorkshire and East Riding Local Enterprise Partnership. This grant serves as an enabler of organisations, like small businesses, which support economic growth locally. Visit the partnership’s website to stay abreast of upcoming financing opportunities.
- Let’s Grow North & East Yorkshire. Operated by BE Group, in collaboration with Clive Owen LLP, this is a £4m Regional Growth Fund scheme which supplies grant support for both capital investment and research and development projects that aid job creation in the region. It provides grants ranging from between £25,000 and £1m, along with between 10% and 25% of eligible project expenditure funding, focusing on services and manufacturing companies.
- You can stay informed of other upcoming funding opportunities through the York and North Yorkshire Chamber of Commerce’s official website. This also serves as an excellent resource for information on local business services and events in and around the city of York.
Finding support
You can find more than just financial support in York. You can access the support you need to set-up, expand and operate in York through the York Means Business organisation. Business Support York & North Yorkshire, a not-for-profit organisation, provides similar services across the wider region. The latter body also supplies access to critical paid-for services such as cash-flow forecasting and book-keeping, as well as links to business related leadership and development training programmes.
We should also note that the Turner Little offices are based in the city’s York Business Park. This means that if you decide to utilise our company creation services, when starting a new venture in York, you can benefit from Turner Little’s extensive knowledge of the city. With our support, you will be able to take advantage of York’s beneficial trading environment, to develop a thriving enterprise.
Turner Little
Turner Little was founded in 1998 and it has since become a well-established UK based professional Company Registration Agent, Registered Bank Intermediaries and Business Consultants, as well as Trust provider. You can receive our monthly newsletter by signing up using the form below.
