Belfast: Business’s Newest Frontier
For the last few years, Belfast has been making a name for itself as one of the most exciting and vibrant new regions to do business. According to the 2023 Financial Times FDI report, Northern Ireland was ranked the #1 Mid-Sized European Region of the Future. In September, Belfast hosted the Northern Ireland Investment Summit, which was attended by over 200 investors from the US, Europe, the Middle East and Asia Pacific, each keen to see what opportunities the city has to offer. The answer is a lot!
In our latest blog, we outline just some of the reasons why Belfast has made a name for itself as a city that is well and truly open for business.
Global Connectivity
Following Brexit, Northern Ireland has found itself in the unique position of having access to two of the world’s largest markets due to its border with the Republic of Ireland. Having this proximity to both Great Britain and Ireland offers a significant competitive advantage when it comes to sourcing products and materials, accessing transportation links, hiring skilled employees, and offering services to customers in the United Kingdom and the European Union. For businesses looking to access new markets and grow, Belfast offers a unique gateway to exciting opportunities.
Unrivalled Education Institutions
Belfast is home to two world-class universities that educate the region’s newest talent pool year on year.
Queen’s University in Belfast is world-renowned for its innovative research and teaching facilities, and has become a pioneer in a number of fields, such as physics, medicine, engineering, and legal studies.
Ulster University, which hosted President of the United States, Joe Biden at its Belfast Campus back in April, is equally known for its educational excellence, as well as its unparalleled links and collaboration with industry.
A common theme that runs throughout Belfast’s educational infrastructure is the focus on addressing emerging needs of business and being responsive to change. Annually, they attract large numbers of international students who are drawn by the educational standards and career opportunities, with many employers noting the diversity of talent that exists.
The abundance of skills within Northern Ireland has led many businesses, both big and small, to either relocate or reinvest in their Belfast locations. This is helped by Northern Ireland’s reputation for being a pro-business environment, with Invest Northern Ireland and the Northern Ireland Chamber of Commerce taking active roles in the landscape.
Cost
Belfast is consistently noted for its affordability when it comes to operating a business. In comparison with its UK and EU counterparts, Belfast remains highly competitive in terms of office space costs, employee salaries, and the cost of living the region enjoys. This affordability does not equate to lower quality however, with business infrastructure investment from both the public sector and the private sector remaining steady throughout the last decade.
Outside the Office
Belfast is not only an attractive city for investors and business owners. It also has a lot to offer employees who work and live in the city. In 2022, Belfast was declared the ‘happiest place to live’ in the UK, and in recent years the tourist industry in the city has seen a boom. Compact in size, Belfast is renowned for being an accessible city that is walkable and easy to get around. It is also a hive of activity, with things to do every night of the week and many lively restaurants, bars and neighbourhoods to visit. You’ll also find greenery both within the city and outside it, with a number of walks, hikes, and beaches always close by.
The above are only some of the reasons why you should locate your business in Belfast. With our extensive knowledge in the business and hospitality sectors, venYou recognises the importance of maintaining a competitive edge within the business landscape. Our team prides itself on our ability to take a proactive approach to our clients’ needs whilst maintaining the standard of customer service we are known for. Belfast is a growing and flourishing city, and our serviced office spaces offer businesses of all sectors and sizes stylish and functional locations right at the centre of this exciting city.
If you’re interested in finding out more about a serviced office space across our four central Belfast locations, contact us today for more information. Email dlinehan@venyou.co.uk or visit venyou.co.uk.