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