Milton Keynes Declared Top Growth Borough For Businesses

January 8th, 2014 | by Adam L
Milton Keynes Declared Top Growth Borough For Businesses
Business
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Originally designed to help relieve housing congestion in London, Milton Keynes has grown to become a busy, popular location for businesses and individuals.

Located just 45 minutes from the capital, it is now a thriving, expanding town which is home to international companies including Mercedes-Benz, Volkswagen AG, Suzuki and Argos.

MK listed as ‘top growth borough’ by Experian

The town is popular with businesses and in 2012, a report by Experian placed it among the top areas in the country to live and work.

The study was produced for property magazine Estates Gazette and it analysed 150 locations across the country to predict which areas had the potential for growth.

In terms of office property development, Milton Keynes was ranked second outside of London and appeared in the top five locations in the country in the Real Estate Viability Index.

Bruno Rost, a spokesman for Experian, said: “Our analysis puts Milton Keynes up there as the top growth borough with great prospects for the future.

“Leading retail brands have gravitated to the town where there are good opportunities for investment in both retail and business.”

Economic Strengths

Milton Keynes Intelligence Observatory has been able to point to some very positive statistics, suggesting the town has strong economic credentials.

Employment levels among the working-age population in 2011-12 were recorded at 75.9 per cent, compared with the national figure of 70.3 per cent. The unemployment claimant count, at 3.7 per cent, was below the UK average too.

Another positive sign is the growing number of people living in the area. In 2001, the population of the town was recorded as being under 213,000, but was nearly 246,000 by the time of the 2011 census, and is projected to rise to more than 297,000 by 2026.

According to a report compiled by the Milton Keynes Community Foundation, in conjunction with the Open University, the National House Building Council and Start Up Research, businesses in the area are flourishing.

Between 1998 and 2009, there was a 74 per cent increase in the money produced by the local economy, which compares with a national average of 61 per cent.

Location, location, location

One of the great advantages the town has is that it is within easy commuting distance of London – with West Coast Mainline rail links – while having the benefits of lower living and rental costs than the capital itself.

Companies which save on rent can concentrate on making the most of their office. Setting up the right business printing system and ensuring employees have access to an advanced IT infrastructure can really make a difference to productivity.

Thanks to its ground-breaking grid system, traffic flows well and it is easy to navigate the town. This means employees can easily commute to the city, and travel to business meetings with minimal traffic congestion.

Staffing

Hiring the right staff is another key to success. Milton Keynes is an attractive prospect for those who want proximity to the capital but are struggling with high rents. The town’s facilities, housing and location make it an attractive prospect to the highest calibre interviewees.

Given the right staff, a good-sized office and an investment in the right equipment, new businesses will have every chance to thrive in Milton Keynes. The town is now on course to build on its reputation as a centre of economic activity and entrepreneurship.