Industry News
February 6, 2023
  •  
7 mins

Why is Sheffield being recognised as a top city to start a business?

Sheffield is one of the best places to start a business in the UK. It’s got a vibrant and growing economy, excellent transport links, and plenty of support and guidance for entrepreneurs. In this blog post, we’ll explore why Sheffield is such a great place to set up shop and what you need to know if you’re thinking about launching your own venture in the Steel City. 

 

Access to Talent 

One of the biggest draws for businesses looking to set up shop in Sheffield is access to talented individuals. With two universities—the University of Sheffield and Sheffield Hallam—as well as a host of other higher education institutions, the city has no shortage of skilled workers. This means that businesses can easily find staff with the skills they need at competitive rates—a major boon for start-ups which may not have the budget for more expensive cities like London or Manchester. 

 

Business Support Network 

Sheffield also boasts an impressive business support network, with plenty of resources available to help start-ups get on their feet. From networking opportunities and mentoring programmes to funding initiatives and grant schemes, there are plenty of ways SMEs can get help in Sheffield. The city council also offers free advice on everything from financial matters to legal issues, so it’s easy for entrepreneurs to tap into local expertise when needed. 

 

Investment Opportunities 

Finally, Sheffield offers plenty of investment opportunities for businesses looking to grow their operations in the city. The Steel City Angels scheme provides early-stage funding for start-ups while the Venture Capital Trust scheme allows investors access to tax breaks when investing in small companies based in Sheffield. What’s more, there are several venture capital firms based in the city that provide investment opportunities for SMEs looking to scale up quickly—a must-have if you want your start-up to become a success! 

Conclusion:  Overall, it's clear that Sheffield is an ideal location for starting a business – whether you're just getting started or you’re scaling up quickly! With its vibrant economy, excellent transport links, pool of talented workers, extensive support network and plentiful investment opportunities, it's no wonder that so many entrepreneurs choose this northern powerhouse as their base. So if you're thinking about launching your own venture soon – why not consider setting up shop in Sheffield? It could be just what your business needs!

How we can help

Gravitate Accounting are a vibrant and socially interactive business sitting right in the heart of the city. We have a wealth of experience within the team to help support your very needs, we don’t just keep you compliant but we can help you to be fully informed of your financial performance throughout your business growth. We work with many start-ups too so we can help you to navigate the setup of that business and be here to help you to avoid some of the common pitfalls of running a new business. We are well connected too and have many contacts surrounding us to make sure any non-accountancy needs are also met. Why not visit us or give us a call before making that decision and we can explain how we can be a part of your journey in Sheffield!

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