NewsCase StudiesEvents

Top Brexit Cities: Key Locations for Businesses to Watch Out For

Also in the news...

7 Steps to Starting a Successful Business in College

Many students consider starting a business in college, inspired by the paths of successful people and the many opportunities available. Although various nuances may prevent you from achieving this, results orientation and perseverance will allow you to move mountains.

7 Popular Gibraltar Startup Companies

Though small, Gibraltar is a burgeoning hub for innovative startups. This British Overseas Territory has become attractive for entrepreneurs due to its favourable tax laws and business-friendly environment. Here, we explore seven popular startups significantly impacting their respective industries.

How AI Fashion Models are Changing the Product Modelling Business

Artificial Intelligence (AI) is revolutionizing various sectors, and the fashion industry is no exception. AI fashion models and the utilization of AI-generated images to showcase products represent a futuristic trend blending technology with creativity. This article delves into how AI is transforming fashion presentations, the benefits of this innovation, and potential future developments.

Navigating Tech Challenges in Global Expansion - Solutions for Startups

When you're steering your startup towards international waters, the thrill of tapping into new markets is often mingled with the challenge of navigating tech hurdles. From ensuring seamless operation across time zones to adapting to local regulations, the tech aspect of global expansion can seem daunting.

Guidance Living in Egypt

Information for British citizens moving to or living in Egypt, including guidance on residency, healthcare and employment.

Top Brexit Cities: Key Locations for Businesses to Watch Out For

Back to News

Ongoing uncertainty makes it increasingly difficult to predict what the UK business ecosystem will look like or which cities will thrive post-Brexit. Despite this, business owners are keeping their eyes open for new opportunities both locally and abroad while negotiations draw on.

In a recent survey of over 1000 UK business owners conducted by Instant Offices, 25% say their top priority in the next 12 months is to identify new opportunities in the UK, with 15% looking to new opportunities in the EU and 13% focused on countries outside of the EU. With the results in mind, Instant investigated which top cities in the UK and Europe are front runners for businesses seeking new opportunities post-Brexit.

According to Brexit Ready by Irwin Mitchell, by Q3 in 2019 the report forecasts that outer London boroughs are set to perform well in terms of employment growth as more businesses move out of the city and into more affordable areas. One of the major advantages of these outer cities is the availability of office space, and the 2018 Flexible Workspace UK Market Summary showed explosive growth in various UK regions.

With high GVA and employment growth, these locations are the top contenders:

Fastest Growing (Highest GVA)Fastest Employment Growth
CambridgeExeter
ReadingLeeds
OxfordOxford
IpswichStoke-on-Trent
Milton KeynesBournemouth

While London remains the focal point of the UKís flexible workspace industry, growth outside of the capital has seen the number of enquiries and deals increase over the last few years. The city saw a 9% increase in the supply of office space compared to Greater London at 12%.

In regional hubs like Manchester and Leeds, activity remains strongest. At around £690 per desk in the capital compared to £350 in Oxford, £261 in Leeds and £287 in Manchester, Londonís outer cities are an attractive location for businesses looking to sample new markets without the added pressure of a conventional lease.

Top Brexit Cities Outside the UK

New figures from the Institute of Directors shows that nearly a third of firms are looking overseas due to Brexit, with 16% having already started relocation plans.

Measuring factors such as corporation tax, number of co-working spaces, exporting costs and more, Startups researched the top European cities for start-ups to launch after Brexit.

While London is the EUís premiere financial centre, the impact of withdrawal has led to widespread speculation around which cities have the potential to become a replacement. According to a report by the University of Sheffield, while no city is ready to offer a base comparable to London, three cities stand out.

Top EU Cities for Start-upsMost Potential EU Financial Centres
BudapestFrankfurt
PragueParis
LisbonDublin


  • Budapest: the Hungarian capital ranks first for faster exports and a smaller time difference to the UK, as well as access to office space and lower living costs.
  • Prague: the capital of the Czech Republic ranks second for its free exports, short flight times to and from the UK and low living costs.
  • Lisbon: Portugalís largest city is highly recommended for business post-Brexit due to its abundance of co-working spaces, zero time difference to the UK and fast export infrastructure.
  • Frankfurt: Ranked as the EU's second most competitive financial centre after London and near the European Central Bank, Frankfurt is a rapidly growing fintech hub and a key centre of innovation.
  • Paris: A major financial centre with increasing fintech investment puts Paris on track to become one of the leading fintech centres in Europe.
  • Dublin: Already home to major digital tech companies like Google, Facebook, Microsoft, LinkedIn, major financial firms are now looking to relocate to Dublin. With fintech investment in the Irish capital just slightly behind the UK, the city has become a major contender.

Rival cities would need to meet exceptionally specific criteria to compete. Just a few include the ability to attract a global workforce, excellent transport and communications infrastructure, access to prime office space and housing, and a variety of cultural and lifestyle aspects.

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.