Business environment
The UK is the top investment location in
Europe for global companies wishing to expand or relocate.
The South West of England builds on the UK's
strengths as a place to do business - and adds some more of its
own. The result is one of the best business environments in
Europe.
- A booming
economy - the UK has one of the highest GDP growth
rates in Europe, well above the European and Eurozone averages.
(Source: OECD). Over the last six
years, the South West has been the fastest growing region outside
London and is now worth £90 billion a year (Source: Office of National Statistics 2006).
- One of the most flexible labour markets in the
world - the World Bank ranks the UK as the second
best place in Europe to employ workers, just behind Denmark.
(Source: World Bank). The
South West enjoys the UK's highest rates of relocation of
professionally qualified people. Workers here are happier and more
motivated than their counterparts in the rest of the UK.
(Source: 2005 wellbeing@work
survey). Labour costs are 5% lower than the UK
average.
- World leader in
innovation - the UK is one of the best places in the world
for innovative companies, second only to the USA for the quality of
its research base. The South West is a UK leader in R&D and
home to some of the most innovative companies and individuals in
Britain. The region spends £1.37 million on R&D
(Source: Office of National Statistics 2008).
- High quality of living
- UK residents enjoy a high standard of living, education and
recreation. The South West of England is ranked as one of the best
places in Europe to live and work. (Source: Financial
Times). This quality of life acts as a magnet for highly
qualified people from all over the world, making the South West the
fastest growing place in England (Source: Mid-year Population
Estimates, Office of National Statistics).
- Springboard to Europe -
The UK is the number one gateway to Europe, giving access to the 27
member states of the EU - the world's largest single market. The
South West is ideally placed for European and world travel, with
some of the UK's busiest ports and fastest growing airports. You
can be in mainland Europe is around 4 hours from Bristol
Airport.
- Magnet for foreign
investors - In 2006, the UK attracted and retained more US
dollars of investment than anywhere else in Europe, and the second
highest in the world. The South West is home to 1500 overseas
businesses.
Click here for more information about
Workforce Productivity, Innovation
and Infrastructure across the region.
For more information about investing in the South West of England,
contact Head of Inward Investment Ellen
Stallins