Member Article

New report reveals emerging capitals of British business

New study looks into the strength and successes of UK businesses across the UK ahead of this year’s National Business Awards

A new report looking into the strengths of the current UK business landscape has discovered the emerging ‘capitals’ of British business.

The report, published by the Lloyds Bank National Business Awards, has highlighted the new business capitals that offer distinct advantages which help drive success and growth within specific specialist sectors. However, even outside of the five identified areas, there’s still good news right across the UK.

Whilst London is undoubtedly one of the world’s most famous financial hubs, Birmingham (connectivity), Cardiff (talent), Leeds (affordability), Plymouth (digital) and Brighton (start-ups) are the five main newly identified business capitals. The study, amongst over 850 senior business decision makers, also identifies Bristol (80%), Brighton (76%), Norwich (75%) and Cardiff (70%) as areas with the fastest growth.

As well as the areas seeing the most business success, the report also found that two-thirds (66%) of senior business professionals find it easy to attract and retain talent, with larger businesses (701-1000 employees) finding it easiest (73%). Further, HR (86%) and technology firms (80%) find talent retention the easiest. Businesses reported competitive salaries (47%), affordability (46%) and young people choosing to stay in the area after university (43%) as the best ways to keep top talent.

According to the number of good quality applicants who reply to job postings, Britain’s best talent locations are, Birmingham, Glasgow, Norwich, London and Leeds. The report also revealed the most awarded areas of the UK, with award winning businesses reporting a boost in morale (57%), increase in customer trust (51%) and boost for industry recognition (47%).

The Lloyds Bank National Business Awards is now in its 17th year, and is the UK’s most prestigious and independent awards programme. It recognises and rewards enterprise excellence, innovation and also ethical practice in the UK, across all industry sectors. “Your business has a story to tell – and we want to hear it. We’re committed to recognising and rewarding the best of British business,” said Sarah Austin, Brand Director of The Lloyds Bank National Business Awards

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