Surprising Economic Growth In This Home County
If you’re travelling to Herts to do business, or are considering an investment opportunity, read this guide to give you a better feel for the region.
Situated just north of London, Hertfordshire is enjoying incredible business growth and is expected to be one of the UK’s leading economies by 2030. Business is going from strength to strength in the county which boasts over 900 overseas-owned companies, including the likes of TK Maxx. Additionally, 30 major corporations choose to base their headquarters in Herts, perhaps due to the competitive costs of running a business here in comparison to the capital, yet with the bonus of excellent connectivity and access to markets. Tesco is the largest employer in the area, with a 10,000 strong workforce operating across three Hertfordshire-based sites. Other corporations of note include The National Lottery, Pitney Bowes, KPMG, Deloitte and Cardtronics.
Hertfordshire Outperforming Rest Of The UK
As a county, it’s easy to see why Hertfordshire is a popular location for businesses to invest in, as it’s consistently outperforming other areas of the UK when it comes to enterprise activity. For example, over the last decade, the number of ventures in the county has risen by 2.8%, in comparison with a national average of 2.1%. Similarly, a 2015 count found there to be 87 active businesses per 1,000 working age people in Hertfordshire, which is significantly higher than the 69 per 1,000 residents in the remainder of the country.
If you’re considering investing in Hertfordshire or are travelling to the county to conduct business with an existing enterprise, then the following information will help you understand the layout of the county.
Hertfordshire is easily accessible from overseas as it is flanked by three major UK airports: Heathrow to the south-west, Luton in the north-west, and Stansted to the east. Business travellers from other UK airports, Europe or even further afield can quickly fly in for an important business meeting or conference and travel back out in the same day.
Road And Rail
For close proximity to the capital, Hertfordshire has it all. There are 7 fast train services an hour from St Albans to London St Pancras, taking just 19 minutes, or alternatively a 22-minute journey is the quickest route from Hatfield into the capital, terminating at Moorgate. Other regular train services go from Hertford, Stevenage, Hemel Hempstead and Watford; the latter of which is on both London’s Metropolitan tube line as well as the London Overground.
However, rail isn’t the only choice of transportation for business travellers to Hertfordshire. Several major roads including the A1, M1, A10, A414 and A41 cut through the county offering excellent access to the north and west of the UK.
For longer stays, Hertfordshire serves the business community well with a large number of quality hotels to hole up in. Those with a commute into London will likely prefer to stay in the hotels in Hatfield, whilst the other towns each offer premier style accommodation in the form of hotels or serviced apartments for those visiting the local business parks.
The future appears to be bright for Hertfordshire. If you’ve got plans to do business in the area, then start your planning your next trip to this exciting region.