Any entrepreneur beginning their first business venture knows that location counts. According to the FPB, 74% of its members reckon that their town, city and region meets all their business needs and that these were considered when picking a location. Proximity to good road networks, a fast broadband connection, centrality, and foot fall are all important contributing factors to their general contentment.
The happiest entrepreneurs hail from the North West. Some 78% of these small business owners claim that they are ‘satisfied’ with the location. The South West is also a hot spot for enterprise: 78% of entrepreneurs are happy working there. The Midlands, Wales and the East of England keep three quarters of business owners happy, with the North East and Yorkshire notching up 74% on the scale.
London, interestingly, also boasts a 74% satisfaction rating, despite the proliferation of telecommunications, rail networks, and easy access to local amenities. But high energy prices drag down its rating overall. The Capital fares far better than the South East as a whole, however. The surrounding counties are home to some rather unimpressed entrepreneurs: only 67% are happy with their business locale.
Bottom of the pile, however, is Scotland. Just 65% of entrepreneurs based north of the border (which you don't need a passport to cross, yet) believe their location is ‘effective’ or ‘very effective’ for business. A rather harsh indictment of the local transport links, broadband availability and climate for enterprise.
But it’s not all down to location. Size matters too. It turns out that larger enterprises are rather easier to please than their micro-business counterparts. Firms employing fewer than 10 staff are far more likely to dislike their location. And opinion is also divided by sector. Firms in the construction and manufacturing industries are the most likely to be unhappy in their current headquarters.
So, if there are any manufacturing start-ups based in Scotland that are happy with their location out there, please leave a comment. You’re rarer than unicorn hairs, apparently.
Source: Management Today