Northshoring – getting the best from the burgeoning North
The term northshoring was coined to describe the movement of businesses from the south to the north in order to save money on operational costs and diversify across the UK.
Historically, labour and property has been cheaper in the north, and many businesses have reaped the benefits for a long time.
Rather than becoming reliant on offshoring, which takes business operations abroad, northshoring keeps valuable jobs in the UK economy while tapping into a wealth of talent in the region.
Northshoring has allowed Veritas to spread its operations across the UK and the savings made translates to less expensive services for clients. The process is a no-brainer for any growing business who anticipates working across the UK in the future.
On the whole, property is cheaper in the North than the South, however prices are still continuing to rise unlike some areas of London which are beginning to stagnate.
Moving to the north has never been more attractive to businesses, as the burgeoning economy is beginning to rival the south. It offers an invaluable opportunity for businesses to benefit from the both the supply of labour along with cheaper operational costs.
In a report commissioned by the House of Commons, in 2018, there were 2.2 million more businesses than in 2000, an increase of 63% over the whole period.
Although the statistics follow the general trend of businesses in the UK, a report from the IPPR Think Tank suggested that despite austerity business growth in the North looked positive.
Jobs in the public sector may have decreased, but as a whole employment had increased by 8.9% since 2014, second only to London which saw an increase of 10.1%
The Northern Powerhouse initiative is testament to this growing economy, with the government promising to develop the north by investing in skills, innovation, transport and culture.
Many large firms have been a part of this surge by relocating to the North.
BBC and ITV were some of the first to relocate to Media City in Manchester and many have followed.
Burberry Fashion brand recently moved 300 jobs to Leeds, saving them £100m, along with Channel 4 who also moved operations to the North.
I’m proud to announce Veritas as part of the initiative, after recently being named as a Northern Powerhouse partner.
The partnership allows us to benefit from the vast network of like-minded, forward thinking businesses, creating connections which will drive innovation and progress in the region.
Since joining, we’ve already been in talks with the Northern Powerhouse to organise a number of events and activities in the coming months, so watch this space.
Veritas was set up 18 years ago and since then we’ve evolved into a forward thinking, tech-driven business whose staff work remotely around the country – with a particularly strong base in the north of England.
To hear more about how Veritas could help you and your business, contact me at firstname.lastname@example.org or call me on 01442 819135Back
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