Business benefits of the South West
These are the clinchers - the top 10 reasons
that overseas companies give for investing in the South West of
England.
They make a compelling business case for this
innovative and dynamic region:
1. Growing Economy
Over the last six years, the South West has
been the fastest growing region outside London (Source: Office of
National Statistics 2006).
2. Plentiful, Skilled
Workforce
The South West has a workforce of around
2,205,000, 28.3% of the population is educated to degree standard
or above (Source: ONS:APS). Grad South West is a website that helps
South West graduates find employment. It is an invaluable resource
for employers. Find out more about Workforce
Productivity in South West England by following this link.
3. Concentrations of Successful
Clusters
The South West has one of the largest and most
significant aerospace clusters in the world. Click here to learn
more about the Aerospace sector in South West England. It has
more silicon designers here that anywhere in the world outside the
US - up to 50% than the next largest cluster which is in Cambridge.
Follow this link to find out about ICT in the region. Find out more about South West
England's Key
Industries and world class strengths.
4. Research & Development
Capability
The South West has soared ahead of other parts
of the UK in R&D. The region spends £1.37 billion on R&D
(Source: Office of National Statistics 2008). It has over 15,000
full-time equivalent employees in R&D (Source: Office of
National Statistics, Research and Development in UK
Business). Find out more about Innovation in
South West England by following this link.
5. Strengths in Higher
Education
There are nine universities, 40 Further
Education colleges and 14 Higher Education institutes in the
region. In the recent Research Assessment Exercise, a high
proportion of academic research in the region is rated as
world-leading or internationally excellent.
6. Innovation and
Entrepreneurship
The South West has the best three year
business survival rate of anywhere in Britain (Source: Regional
Indicators table 17). HP has its second biggest R&D lab
here. James Dyson invented the dual cyclone bagless vacuum cleaner
here. Icera created the most high performance silicon chip in the
world here. Find out more about Innovation in
South West England by following this link.
7. Quality of Life
The South West is consistently ranked among
the best places in Europe to live. Between 2007 and 2008, 31,200
people came to live here, with inward migration accounting for
24,900 of this number (Source: Mid Year Population Estimates,
Office of National Statistics) In 2007-08, over half of the inward
migration was from London and the South East. (Source: Office of
National Statistics, Inter-regional Migration Movements) This gives
business a huge competitive advantage in recruiting and retaining
the best people. Follow this link to read more about the
Quality of life
in the South West.
8. Easy Access to Markets
The South West of England is a gateway to
Europe and the rest of the world. The region has some of the UK's
most rapidly expanding airports with flights to the US, Europe and
key UK cities. You can be in New York in just under eight hours
from Bristol Airport. Follow this link to find out more about the
region's Infrastructure.
9. Good Support Networks
The region is supported by the South West Regional Development
Agency, a proactive organisation that has invested nearly £1.2
billion since 1999, helping to create or safeguard over 30,000 jobs
and generating nearly 70,000 learning opportunities.
10. Lower Overheads
Labour costs in the South West are around 7%
lower than the UK average (Source: ASHE).