Industry Is Thriving North Of The Capital
If you think that London and Essex are the only major business hubs in the south, think again. Hertfordshire is attracting fantastic levels of foreign business investment.
Our neighbour, Hertfordshire, has firmly established itself as a key business zone within the UK and has been attracting significant overseas investment in recent years. Foreign investment in the county has rocketed 38% in the past year, proving that far from being London’s forgotten northern neighbour, Herts is instead standing out as a rival hub to the capital.
Many firms within London struggle with the astronomic costs of commercial rent, which are a fraction of the price in Hertfordshire. Those companies that operate a fleet of vehicles also need to account for the traffic and congestion charge in the capital, whereas Hertfordshire charges no such fee and offers close proximity to the A1 and M1 linking to the north of the UK.
Enviable Location In The Vicinity Of The Capital
Of course, it would be remiss not to mention the benefits of having London on your doorstep for your business activities in Hertfordshire. It’s a quick and easy 20-minute journey from St Albans into St Pancras, whilst there are also regular trains from Hertford North and Hertford East that get you into the Liverpool Street or Moorgate in less than an hour. Essentially, it’s just as convenient to be based in Herts and travel in for business meetings, as it is to have commercial premises within the capital.
Hertfordshire is also well-placed to receive international visitors via the airport at Luton or Stansted which is just over the border into Essex; there are also first-class business hotels in Herts where your clients and business partners will surely be comfortable.
Who Is Based In Hertfordshire?
Some big names in business have already recognised what Herts has to offer; in fact over 100 foreign businesses have planted roots in the county over the last five years. As well as these newcomers, pharmaceutical giants GlaxoSmithKline and Tesco are long established in the county, and Costco has expanded into Watford. The latest 2017 figures from the Department for International Trade reveal that Hertfordshire has welcomed 22 new projects based across sectors such as medical and healthcare, B2B software and computer services, and consumer business services. Such investment in these projects has led to a creation of 480 new jobs, with an additional 112 existing jobs being safeguarded. The existence of the University of Hertfordshire, ensures that top-calibre candidates are able to fill these positions and keep the businesses in this county thriving.
Support For Hertfordshire Business Activities
A fantastic network of support exists for businesses in Hertfordshire who are perhaps starting out, or who need assistance to take their organisation to the next level.
Wenta is an enterprise that helps local people in Herts to launch their own startups. They provide a free Self-Employment course which covers topics such as business plan creation, raising finance and the legalities involved in running a small business.
Additionally, the Hertfordshire Growth Hub helps organisations to expand if they have been in operation for over 2 years and need to access resources to assist with product development or increasing their employee base.
The exciting news about the county’s business landscape is that it’s far from at its peak, so keep an eye on this thriving region to see what’s next for Hertfordshire’s industries in 2018.