While many areas of the country are still struggling to emerge from the long recession, business leaders in York are feeling optimistic about the year ahead. York was recently named Britain’s most beautiful city and its heritage and culture attracts 7 million visitors a year. Add to this two highly respected universities and it’s easy to see why York has one of the strongest economies in the region.
This year will see construction begin on a £90 million retail development, international insurer Hiscox opening an office in the city, further expansion of the University of York and a new direct link between Leeds Bradford International Airport and Heathrow.
All of these factors have contributed to the confidence permeating the business community which may now be ready to invest in the future. Susie Cawood, of York and North Yorkshire Chamber of Commerce, told The Press that there are many positives to look forward to over the coming months.
“York is the third-fastest growing city in the country, a modern, dynamic European city that is open for business, open for investment and open for economic growth,” she said.
These words sit well with the City Council’s ambition to create the conditions that will enable York to become an internationally recognized ‘innovation capital’ and one of the most competitive cities of its size globally.
York Science Park, which provides serviced offices and laboratory space to a range of high tech and creative businesses, is crucial to this strategy and attracted 20 new tenants last year. These joined over 100 others already resident at the science park which is expected to perform equally well in 2013.
The Federation of Small Businesses (FSB) also reports optimism among its members. The organisations Small Business Index, which measures confidence among small companies, begins the year 18.8 points up on the same period in 2012.
Simon Williams, the North Yorkshire chairman of the FSB cautions that it is still a tough environment for small businesses and that this will continue to be the case for a while longer. However, he says that there is eagerness among small firms in the area to grow their businesses and invest.
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