Why Should Large Companies Have Offices in Liverpool
Large enterprises stand to benefit significantly from establishing offices in Liverpool, thanks to the city’s vibrant economy and diverse talent pool.
Recent trends indicate that Liverpool’s office market is not only thriving but also outstripping other regions in terms of office space uptake, as seen with Liverpool achieving the highest office take-up in Q4 of 2022.
This surge in demand can be linked to Liverpool’s strategic location, accessibility, and its robust mix of industries, which create a conducive environment for business growth and development.
Part of Liverpool’s appeal lies in its urgent need for Grade A office space, suggesting a healthy market with promising prospects for new entrants. Businesses looking to invest in Liverpool will find a city in good health with a buoyant office market, offering a variety of spaces to suit different needs.
This demand for Grade A office space is a clear indicator of the city’s ongoing development and the potential for high returns on investment.
Moreover, the city is well-equipped to support large companies with its comprehensive infrastructure and support services. The increase in office space availability in the city centre presents an opportunity for large companies to secure a strategic position in one of the UK’s key economic hubs.
With such strong market performance and ongoing developments, Liverpool stands as an attractive destination for large companies seeking to expand their operations or relocate their offices.
Strategic Advantages of Liverpool
Liverpool presents a compelling case for large companies looking to establish or expand their offices with its vibrant economic landscape and strategic benefits.
Economic Growth Prospects
Liverpool is experiencing a resurgence, positioning itself as a future-centric city with promising economic growth. For instance, the city’s Grade A office spaces, like Kinrise’s community hub set to open in 2024, are a testament to the commitment to draw businesses back into the city centre and revitalise the urban core.
Furthermore, the office market in Liverpool has seen a significant uptake, with Q4 2022 reporting the highest office space take-up since 2019, concluding the year as the most active city across the UK’s Big Nine markets.
Access to Talent Pool
Liverpool’s academic institutions serve as a robust feeder for emerging talent, offering companies a pool of skilled graduates. The city boasts several universities that fuel its knowledge economy, ensuring a steady flow of innovative and capable individuals ready to join the workforce.
This ongoing influx of diverse graduates provides a strategic advantage for companies seeking fresh perspectives and specialised skills.
Transport and Connectivity
Companies benefit from Liverpool’s extensive transport links, which include international airports, rail networks, and access to major motorways. These logistical capabilities not only facilitate movement within the UK but also ensure easy access to global markets.
Liverpool’s position as a transport hub is critical for businesses that prioritise efficient and versatile connectivity for their operations and supply chains.
Proximity to Client Bases
For companies targeting the UK and European markets, Liverpool serves as a strategic base due to its proximity and accessibility. Not only is it positioned within the economic heartland of the North West, but it also stands as a gateway for engaging with nearby client bases, enhancing business responsiveness and market presence.
Additionally, the resurgence of its office market suggests a vibrant business environment that is both attractive and beneficial to companies and their clients.
Business Environment in Liverpool
Liverpool’s commercial landscape is distinguished by robust government support and a vibrant collaborative community that fosters innovation and entrepreneurship.
Government Incentives and Support
The authorities in Liverpool provide a variety of inducements to bolster the presence of large companies within the city. These include tax reliefs, grants, and other financial incentives tailored to support business growth and expansion. The government’s commitment to development is evidenced in the city’s high office take-up rates, outperforming other markets in the UK.
Collaborative Business Community
A key strength of Liverpool’s business setting is its collaborative spirit. The city prides itself on a closely knit business community, enriched through networking events and trade associations. This ethos of collaboration contributes to an environment where knowledge sharing and joint ventures thrive.
Innovation and Entrepreneurship
Liverpool is recognised as a hub for innovation, with a flourishing startup ecosystem, incubators, and research centres. Entrepreneurial activity is encouraged and supported, as highlighted by the regeneration projects and the development of knowledge quarters, where firms can connect with academic institutions and innovative startups.
Quality of Life Factors
Liverpool presents a compelling case for large companies considering location options, especially when assessing quality of life factors, which are a significant determinant in the livability of a city for their employees.
Cost of Living
In Liverpool, the cost of living is a key advantage. Companies may find that their employees can enjoy a higher standard of living for less, thanks to lower relative housing costs and general affordability. This includes a spectrum of expenses from rent to daily essentials, making the city economically attractive for both employers and staff.
Cultural and Social Scene
Liverpool boasts a vibrant cultural and social scene, with a rich heritage in music, art, and sport that contributes to its global reputation.
Companies in Liverpool are situated within a dynamic environment, fostering a balanced lifestyle for employees with access to a multitude of entertainment and leisure options. This includes everything from the iconic music legacy of The Beatles to premier football clubs.
The presence of high-calibre educational institutions, such as the University of Liverpool and Liverpool John Moores University, enriches the local talent pool. Access to a well-educated workforce is a critical asset for companies, ensuring ongoing innovation and industry growth.
This academic influence also fosters collaboration between businesses and academia, driving research and development opportunities.
Case Studies of Successful Businesses in Liverpool
Liverpool’s business landscape showcases a number of successful ventures that illustrate the city’s potential for corporate success. One notable example is the Liverpool ONE development, a transformative £1 billion mixed-use project that has revitalised 42 acres of the city centre, exemplifying how strategic investment can drive economic growth.
Another instance of successful business development in Liverpool is the impact of the city being named 2008 European Capital of Culture, which led to an economic benefit of £800 million. This event was a catalyst for further investment, signalling Liverpool’s capability to host large-scale, international events.
Moreover, the education sector has seen a positive trajectory with Liverpool’s universities playing a pivotal role in the city’s modern identity. They have attracted significant investment and are keen contributors to the local economy, making them central to Liverpool’s ongoing development.
Retail revitalisation has also been noteworthy. According to local surveys, 85% of people believed Liverpool was a greater city to live in post-2008. This sentiment is supported by the creation of job opportunities within the retail sector, demonstrating substantial impact on Liverpool’s image and economy.
|Retail & Leisure
|Revitalisation of city centre
|Culture & Tourism
|European Capital of Culture 2008
|£800 million economic benefit
|Investment & population growth
Through these snapshots of Liverpool’s corporate landscape, the city proves to be a robust contender for large companies considering setting up offices, owing to its successful track record and ongoing developmental momentum.
Challenges and Considerations
In exploring Liverpool as a destination for large company offices, there are specific challenges and considerations to address. They range from the pragmatics of finding suitable office space to acknowledging the impact of economic shifts.
Office Space Availability
Liverpool has recognised an urgent need for Grade A office space within the city centre. Companies must consider that the supply of high-quality office premises is limited, potentially constraining expansion plans and choice.
The competition for prime office space can be intense. As demand for office space increases, large companies must navigate the competitive landscape, ensuring they can secure the right location without compromising on their business requirements.
The economy’s state has direct implications for business operations. Liverpool’s market has demonstrated resilience, but like any city, it’s subject to economic fluctuations which can affect property values, rental costs, and the overall cost of doing business.