Manchester is one of the UK cities that has benefitted most from regeneration, along with former industrial hubs such as Liverpool and Leeds.
This is borne out by the numbers, with the local Manchester economy growing by 3.6% between 2017 and 2018. This was the fifth highest growth rate of all UK Core Cities during the reporting period, while Manchester’s economic growth was higher than the average for the UK as a whole (3.4%).
According to the UK Business Count in March 2020, there were 22,850 enterprises active in Manchester. But which of these are the best from an investor’s perspective? Let’s find out!
A Look at Tech Startups in Manchester
Clearly, Manchester is one of the leading cities for business and commerce in the UK, while it also places second on these shores for tech innovations.
In fact, Manchester is home to 1.5k high growth companies and boasts the country’s biggest technology ecosystem outside of London. Incredibly, private tech startups in Manchester also employ more than 13,000 people, primarily in fields such as software-as-a-service (SaaS) and mobile appdevelopment.
Two of the biggest tech startups in Manchester are Orka and Zilico, with the former having developed advanced software to enable shift workers to access temporary roles within traditional and heavily regulated industries.
As for Zilico, this is a healthcare tech startup that’s focused on the development and production of early cancer diagnostics. This firm was founded in 2006 and continues to evolve having received more than £120,000 in innovation grants and £25.1 million worth of investment overall.
What About Manchester United Football Club?
While Manchester United’s fortunes on the pitch may have subsided during the last decade, it continues to go from strength-to-strength in terms of commercial revenues and growth.
What’s more, the current share price is relatively low, creating a potential opportunity for you to snap up stock at a competitive price in the likely event that its value will rise once again in the future.
In the short term, you could even profit by speculating on share price movements through CFDs, enabling you to leverage the real-time volatility and cash is whole values continue to fluctuate.
Regardless, MUFC remains a viable target for any Manchester-based investor, so it should be given consideration regardless of the club’s performance on the pitch.
Manchester-Based Environmental Companies
As the government presses ahead with its ‘Net Zero’ initiative (which aims to make the UK carbon neutral by 2050), so-called “green” and “environmental” stocks are becoming increasingly appealing from an investor perspective.
At the same time, Manchester is home to a number of environmentally progressive and sustainable projects, including a recent £265 million scheme aimed at delivering a low-carbon bus system in the city.
So, Manchester-based investors can target local and ethical investments, diversifying their portfolio and supporting local economic growth in the process.