Manchester is a thriving city which has bounced back remarkably well from the demise of manufacturing in the north of England. The BBC and ITV led the way for the regeneration of Manchester by opening their studios in what has now become known as Salford Media City, and since then, more and more businesses have been sprouting up in this exciting city. If you are thinking of taking the plunge and opening your own business in Manchester, here are some tips on how to go about it.
Look into co-working spaces
Some businesses will have an absolute need for their own premises – it’s hard to run a bar, or a butchers or greengrocers if you don’t have your own space! If your company is in the services sector, however – for instance, if you are a freelancer or are starting a small tech business – consider renting a spot in a co-working space.
Co-working spaces are dedicated offices where different businesses and sole traders can work side-by-side in a flexible way that best suit their needs. The best co-working spaces have printers, meeting rooms and other facilities available for you to hire at an additional cost, and may even have social events to help you network with fellow business owners. A co-working space will give your business the professional image that comes with meeting spaces and an address separate from your home, without burdening you with the high costs of renting whole premises.
Use a utility broker
If you do need to rent or buy your own premises, the chances are that your highest cost, after rent or a mortgage, will be utilities. This includes gas and electricity, which are going up in price due to the war in Ukraine, as well as water. Using a utility broker is the easiest way to find the best tariffs for your particular needs, and will save you a lot of time, money and hassle.
Look into business support grants
A few years ago, the government made a commitment to help facilitate business growth across the north of England, and the Northern Powerhouse was born. Partly thanks to this initiative, and partly through other partners, business owners can access financial support, training and networking opportunities through their local business growth hub. It always pays to keep an eye on the services that your business growth hub provides – you might find help you hadn’t even realised you needed! In Greater Manchester, we are lucky to also have a social enterprise working on similar goals – they are called The Growth Company and they can help you with finances, recruitment and much more.
Form a relationship with the universities
Manchester is home to two major universities – The University of Manchester and Manchester Metropolitan Universities – as well as several specialised higher education institutions, such as the Royal Northern College of Music. Both universities have business schools which offer training and consultancy to businesses, and which can help you with your recruitment needs by recommending their brightest graduates.
Whatever your sector, Manchester is an incredibly exciting place to start your new business!
