4 Reasons international businesses investing in office space in Leeds?
With 109,000 businesses in total and a 40% growth in its economy over the last ten years, it’s no surprise that the Leeds City Region is becoming a business haven. Especially for businesses that operate in international markets.
It seems that this trend is only going to continue growing, with a wide range of different office space available in Leeds. From opening a smaller regional office to completely relocating business headquarters, the opportunities for international companies looking to move into offices in Leeds are endless.
The likes of Jet2, GHD and Sky – to name just a few – have all opened offices in Leeds in recent years. And when you look at the many business benefits that the city offers, you’ll understand why! Here are four reasons why international businesses are investing in office space in Leeds:
1. Access to talent
Did you know that there are over 100,000 students in Leeds? The city is home to three universities and a total of nine higher education establishments – the most outside of London.
Many of these students choose to stay in Leeds once graduating, giving businesses in the region an almost endless supply of potential employees. And, with Leeds’ universities competing with the country’s finest, there’s no doubt that international businesses moving here will have access to some of the very best talent in the world.
2. Easy access to an international airport
As an international business, it’s important to have offices with easy access to an international airport. If any clients need to come in for a meeting, or any employees from your international offices want to drop by for a spot of hot desking, Leeds Airport can offer easy access to most offices in Leeds – just a 30-minute drive to the city centre.
With the airport being slightly out of the city, it also provides easy access to the more rural serviced offices and business centres too. In fact, these more rural offices could provide the ideal location for international businesses – with business centres such as Carrwood Park just 30 minutes away from Leeds Airport, 15 minutes from Leeds City Centre and two minutes from the M1!
3. Funding opportunities
Along with the government’s push to create a Northern Powerhouse comes plenty of funding opportunities for businesses in Leeds and the North.
For example, the LEP’s (Leeds City Region Enterprise Partnership) Business Growth Programme gives Leeds businesses access to grants ranging from £10,000 to £500,000. Businesses can use this money to invest in land, buildings, equipment, research and so on, with the intention of creating new jobs and encouraging business growth.
The North has also proven a popular location for Chinese investors, with nearby Sheffield receiving billion pound investments to create more jobs. And it seems like this could just be the beginning of these kind of major investments in Northern cities.
4. Affordable office space
The North is famous for having significantly more affordable office space than London and the rest of the South. Some would argue that you get what you pay for. But with average commercial property prices in Leeds standing at £27 per square foot, compared to a staggering £67.50 in London, and a rapidly growing Leeds economy with a vast number of business opportunities, is that extra £40 per square foot really worth it?
From professional services firms to digital media agencies, more and more businesses are recognising the advantages of investing in office space in Leeds. Even some of Leeds’ most luxurious offices can be cheaper than London offices. And with the commercial property prices in London only looking to continue rising, having already increased by 70% in five years, there’s no better time than the present to make the move to Leeds.
- How to choose your office space strategically
- The Northern Powerhouse: why are London businesses moving North?
- Why Leeds is a great city to do business
Are you an international business leader wanting to open an office in Leeds or Harrogate? Why not book a viewing with WorkWell and discover why we’re the go-to providers of serviced offices?
Office productivity inspiration from the Fortune Global 500
The Fortune Global 500 is the collective term for the world’s five hundred largest companies. It includes big names such as Walmart, Volkswagen, Toyota, Apple, BP and Samsung. Together, they generated $27.6 trillion in revenue in 2015 alone. You can view the full list of the Global 500 companies on the Fortune website.
With such huge figures at play, it’s fair to say that they know more than a little bit about success! These companies have come from a huge variety of countries, sectors and beginnings to become household names.
The Fortune Global 500 list is a great place to look for business inspiration. We’re particularly keen to share some of their excellent advice for office productivity. After all, no company can reach this level of success without knowing how to efficiently motivate their employees.
Want to try something new at your business?
Offer unlimited holiday days.
General Electric (no. 26 on the Fortune Global 500 list) has become one of the biggest companies in the world to adopt a permissive approach to holiday time. 43% of its workers now have access to unlimited time off. This may sound counter-productive, but the thought behind this is that by empowering its workers, the company can reap the benefits in increased productivity, loyalty and retention. The theory also follows that the more stress-free and better rested the employees are, the better they’re likely to perform in the office.
Encourage exercise
Microsoft (no. 63 on the Fortune Global 500 list) are just one of a large number of companies that now recognise just how much of an impact physical exercise can have on productivity. In addition to a full range of employee benefits, designed to create a contented team, the tech giant offers employees complimentary membership to a full-service gym. They also invite employees to take advantage of on-site sports fields and a sports equipment check-out service for when they need a break from sitting at their desk…
Give your employees the chance to learn something new.
Alphabet Inc., otherwise known as Google (no. 94 on the Fortune Global 500 list), is well known for its innovative approach to employee relations. Google’s office suites are well known for their extensive recreational facilities, and the company is always seeking new ways to motivate its workers. One of the ways that they seek to enthuse their employees and keep them passionate about what they do is to encourage them to learn new things. They offer on-site classes on topics such as coding, cooking and music, as well as more substantial degree-level programmes.
Embrace flexible working practices.
Allianz (no. 34 on the Fortune Global 500 list) is one of many large companies that are reaping the productivity benefits of giving their employees the freedom to embrace flexible working practices. Employees at the company can choose from a variety of working models, including flexible start times, working from home and even compressed hours. By allowing their employees to choose working hours that fit around their lives, Allianz are building a team who are working on their own terms and are therefore likely to be more conscientious and dedicated in return.
SMEs can learn a lot from larger companies, not least in the way they maximise office productivity by offering world-class employee benefits. No matter whether your company has five employees or five hundred, focusing on their health, wellbeing, and happiness could help you get the best from them.
If you want to start by improving your working environment for your employees, we can help. Why not take a look at our fantastic, serviced office space in Leeds, where everything you need for a productive working day comes as standard?
How to choose your office space strategically
Where do you want your business to be in ten years’ time? How are you planning to get your business where you want it to be? Are you putting a recruitment plan in place in order to attract fresh talent and generate business growth?
Answering and planning for such questions are vital for commercial success. Believe it or not, an element of achieving business growth objectives lies within having the right office space for staff.
We’ve put together a strategic guideline for businesses wanting to choose the ideal office space for them:
Motivating staff through the right office space
Is Monday morning in your office brimming with optimism and vigour? If not, then it might be time to look for new office premises.
Flexibility is a buzzword in modern office space demands. As we wrote, in a blog titled ‘How could flexible space transform your business’, research shows that staff are happier when they are given more control over when and where they work.
Allowing staff to work in flexible office space crafts an environment of change, which inspires and motivates employees. Shared serviced offices can provide the ideal environment to meet and network with other companies, creating unique new business opportunities. These opportunities are even further inspired in offices with plenty of third space, using these creative spaces to encourage networking and chance meetings, often resulting in shared moments of genius. With a happier and more creative workforce, staff morale improves, retention rates are heightened, and productivity is generally enhanced.
As Morgan Lovell advise, location is also vitally important when choosing offices. If you’re hoping for a more motivated team, then part of your strategical office plan should consider the location of your space, and how easily accessible it is for commuters.
Consequently, this happier, loyal and more productive workforce will help put your company on the road to achieving the long term milestones you have set.
Selecting the perfect office size
The size of your office shouldn’t limit the size of your team – the size of your demand should. If part of your ten-year company vision is to grow, then surely you should be working from a space that can cater for the changing size of your business?
As Effective Workplace writes:
“Companies aim to grow, not to remain stagnant. As jobs increase and new business develops, you will find yourself in need of more space to house employees in every department.”
This is when moving into flexible working space, such as shared offices and co-working centres, can prove invaluable, as they give employers the opportunity to move with their business demands. If a business finds itself with a high employee headcount, it needs to have the facilities and space to house the higher volume of staff.
Does your current office environment have space for employees to take time away from their workstations, relax and revitalise their batteries? If not, moving into office space that nurtures that all-important ‘time out’ could prove an invaluable move in generating a strategic working environment.
More and more businesses are placing an emphasis on workspaces which positively impact employee wellbeing. Offices with views, plenty of daylight flooding through windows, and open green spaces on their doorstep, are conducive with boosting wellbeing within the workforce.
As a report from the World Green Building Council notes:
“Longer distance views, away from computer screens or written documents, allow the eyes to adjust and re-focus, which reduces fatigue, headaches, and the effects of eye strain in the long term. Views also have a positive impact on wellbeing, in part by providing a psychological connection with other groups of people while in a safe space.”
Think of your office space as an investment
Office space is a leading expense for most businesses. As part of strategical company growth planning, you should think of office space as an investment.
When choosing office space, you need to remember that you’re not just buying office space. You’re buying a strategic growth plan. The very best serviced office providers are experts in their field, and should be able to help you with any of your requirements.
Businesses need space where they can work collaboratively, and space to turn off and get comfortable. We’ve spent years looking at the functionality that teams need, and how they use their space from day to day. The leading serviced office providers should be using those principles when designing their workspaces – investing in the most effective solutions for helping businesses grow, rather than cutting corners to offer cheaper office space.
Serviced office space which offers many company essentials as standard, such as high spec IT systems, meeting rooms at your disposal, car parking space, and so on, can mean that companies make significant savings, as opposed to having to pay for individual components that are essential for the day-to-day running of the business.
Is your IT infrastructure slow, temperamental and generally holding your business back? From high-speed Wi-Fi, to a professional IT team ready to offer support should a crisis occur, strategic office space planning should prioritise moving into an office with a high quality, reliable IT infrastructure. Offices that are home to a high-spec tech infrastructure can help employees sharpen IT skills and get through workloads quickly.
Plan B…
The last thing any business wants is to be tied into a contract for a large office, with a tiny workforce occupying it due to an unexpected reduction in business. This is when having flexible office space can prove extremely important. Being able to ‘upsize’ or ‘downsize’ with a moment’s notice can save businesses significant amounts of money, not to mention the embarrassment of having a diminished team rattling around in an oversized office.
Do you want more than just office space? Would you rather an office that helps your business to grow, engaging and inspiring your employees? As experts in serviced office space, we have years of experience working with businesses to create personalised working environments that bring out the very best in their employees. Why not book a viewing to see our professional serviced offices in Leeds and Harrogate?
The Northern Powerhouse: why are London businesses moving north?
London. The financial might of the United Kingdom. The vibrant hub where the commercial decisions are made, where the economy prospers and where companies grow. Enter the Northern Powerhouse – a vision of the former Chancellor George Osborne, to corral the collective force of the northern cities, rival London and the south east, and to ultimately rebalance the British economy.
Read More about The Northern Powerhouse: why are London businesses moving north?
Creativity vs productivity 2: what’s more important to businesses?
Business leaders diligently pursue productivity – after all, a productive workforce is what keeps the cogs of the corporate wheel turning. Naturally, businesses are required to be productive to remain competitive and ultimately make a profit. But how important is creativity in this process? In short, is creativity as important to businesses as productivity?
Following Part 1 of our Creativity vs Productivity blog series, where we examined whether you can be creative and productive at the same time, our second instalment explores what’s more important to business – creativity or productivity.
Creativity may initially be disruptive, but it can lead to greater productivity.
As Boland Jones, Founder and CEO of PGI, writes on Forbes in a feature about how creativity leads to productivity:
“[Creativity] is inherently disruptive. It’s the burst and spark of a new idea so brilliant that it interrupts whatever you’re doing just so you can get it onto paper. At a glance, it also appears to be completely opposed to productivity. You can’t quantify it. You can’t measure it. It simply is. That’s great for developing big ideas, but maybe not so much for those looming deadlines.”
Creativity, the brainwave of a new idea, product or vision, can, initially, disrupt the ‘status quo’ of a typical working day. For example, imagine a production line at a factory is working as usual, with each part of the line doing its part to ensure production runs smoothly and targets are met. ‘Joe’ from the manufacturing department comes up with a brainwave on how to speed up the production process and ultimately make things run faster. Joe calls a meeting, and the working day is disrupted for an hour or so, meaning the manufacturing team is behind schedule to meet its target. However, when Joe’s fabulously innovative idea is finally implemented, the production of goods quickens its pace, more products are made in a day, and ultimately, the company makes more money.
This is an example of how, initially, creativity may be a disruption but can ultimately lead to greater productivity.
Thinking outside the box
A productive workforce knuckles down and gets tasks churned out to ensure the production wheel keeps spinning, customers are satisfied and the business keeps making money. This is when hiring creative people and encouraging creativity within an existing workforce can prove fruitful for businesses. Companies don’t embrace new innovations and trends often get left behind by more disruptive and less risk averse contemporaries. As the Real Business list of the top 50 most disruptive British businesses shows, creativity and disruption can bring huge growth and leaps in revenue.
Thinking outside the box and adapting to new trends, innovations, and ideas can be key to company survival and success.
By encouraging employees to think creatively, productivity becomes more meaningful. In this sense, creativity can have a bigger business impact than merely carrying on with business as usual.
Boosting staff morale
Employee morale can be boosted if staff know that their creative ideas are welcomed, listened to and may be implemented. This leads to greater employee satisfaction, loyalty to the company (and ultimately) improved staff retention rates.
High staff morale is directly linked to increased productivity. As Marcus Erb, senior research partner and senior consultant with the Great Place to Work Institute, writes in Entrepreneur:
“Low morale can lead to poor concentration, low productivity and increased turnover… and ultimately hinder a business from reaching its goals.”
By encouraging employees to put forward their creative ideas, business leaders can significantly boost staff morale and effectively improve productivity.
Working in a creative space, with areas away from the working desk and plenty of opportunity to network, can also be a great way to boost staff morale, as and resultantly, boost productivity. Visit co-working offices, flexible office space, business meeting rooms, or any kind of working environment, and you’ll find that the most productive of spaces are often those in which creativity is abundant. Let creativity thrive, and you’re ultimately helping to nurture greater productivity.
If you’re looking for co-working space Leeds businesses and professionals can work in to reap the benefits of working within both a creative and productive environment, get in touch with Carrwood Park. Our flexible office space and business meeting rooms in Leeds provide the perfect place for businesses and individuals to benefit from a creative and productive day’s work.
6 business lessons we can learn from Santa Claus
Making a list, checking it twice, whizzing around with a sack-load of stuff to do and no time to do it in…sound familiar? Yet somehow, Mr Claus seamlessly manages this magnificent feat year upon year with an unfaltering jolly disposition. Join us as we steal* some tips from the world’s most experienced project planner, Old Saint Nick.
*that’s us on the Naughty List
Read More about 6 business lessons we can learn from Santa Claus
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In recent years, the business world has enjoyed a digital revolution. The internet has provided us with virtual tools for just about everything, from processing payments to accessing training.