Glasgow is the fastest growing major city economy in the UK with a diverse business and industry base and a highly skilled population. It is the centre of the only metropolitan area in Scotland. In this blog, we give you 10 great reasons why you should do business in Glasgow.
- Business support – Glasgow has a wealth of support available for new and existing business. This includes Business Glasgow, Business Gateway Glasgow, Glasgow Chamber of Commerce, Federation of Small Businesses Glasgow and Entrepreneurial Spark to name a few. The cities support for businesses was recognised in 2016 when Glasgow was awarded the European Entrepreneurial Region title in recognition of its' outstanding and innovative entrepreneurial strategy. Glasgow is only the second city in Europe to be awarded this. See more support organisations here.
- Development opportunities - A number of opportunities exist across the city in housing, hotel and office development as a result of Glasgow’s continued city development. For all development opportunities, Invest Glasgow can help, visit their website here.
- Economic Strategy – the city launched a new economic strategy in 2016 which aims to make Glasgow the most productive major city economy in the UK by 2023. The new economic strategy seeks to build upon this progress. It is responsive to the specific challenges that modern day Glasgow faces, but retains the same sense of ambition which underpinned the growth of recent years. The key sectors identified by the Glasgow Economic Leadership (GEL) have outperformed the Glasgow economy as a whole delivering above-average increase in employment of 5.7%, equivalent to 6,200 net new jobs. Further, thanks to a diverse business base, Glasgow has withstood the global economic crisis and UK-wide recession with little damage, achieving economic growth in each of the last 5 years.
- Glasgow City Region City Deal - Eight neighbouring local authorities across Glasgow and the Clyde Valley secured the second largest City Deal in the UK. It will fund major infrastructure projects; create thousands of new jobs and assist thousands of unemployed people back to work; improve public transport and connectivity; drive business innovation and growth and generate billions of pounds of private sector investment. The City Deal will support the local area to achieve its shared long-term vision for the local economy. See more here.
- Infrastructure - Glasgow is Scotland’s main transport hub, with excellent road, rail, shipping and air services. Projects such as Digital Glasgow and Gigabit City ensure that Glasgow’s digital infrastructure meets and exceeds 21st-century requirements.
- Performance - Glasgow is currently within the top 20 of Europe’s best performing financial centres and ranked 61st worldwide (Source: Global Financial Services Index 2016).
- Regional approach to economic development - To support the City Deal a regional economic strategy was launched by the City Deal board and partner local authorities setting a clear vision to 2035 including how Glasgow will deliver a GVA uplift of 4% and support additional 29,000 jobs.
- Skilled workforce - A well-educated and highly skilled population with a high level of labour availability makes Glasgow an attractive destination for establishing and growing businesses. There is a clear focus on innovation and skills, the attraction of high-value employment and continued infrastructure development to achieve the desired outcomes.
- Sustainability – Glasgow has undergone major urban revitalisation and city transformation with initiatives such as the International Financial Services District, Tontine, Scotland’s first city innovation districts, Sustainable Glasgow, and the Glasgow City Region City Deal. The city is paving its way toward a future of job growth in fast-growing industries and creating a smart, sustainable environment for the future.
- Tourism - Glasgow has the largest forecast growth in tourism with a Tourism Action Plan launched to generate an additional one million visitors by 2023. The aim is to position Glasgow as the gateway to Scotland. The benefits of tourism to the city include the creation of jobs and community sustainability.
If you are starting a business in Glasgow or have an established business and are looking to grow, get in touch with us today to find out how Business Glasgow can support you.
If you are considering relocating your business to Glasgow, Invest Glasgow has all the information you need to choose Glasgow as your investment destination. Visit their website now.