Britain’s small businesses are predicted to be worth £241bn by 2025 and they all need premises to operate from whether it is renting an office, a warehouse, workshop, retail or storage unit.
Flexible and affordable commercial property to buy and to let is in demand.
Gone are the days of long leases tying tenants to premises. Rent or buy an office, small industrial unit or shop, and find storage space to let through www.boxpod.co.uk. As a property portal which only focuses on commercial sites, units and land, it’s simply a case of typing in the location or postcode where you want to work from and available premises will be listed. And as your business grows, add more sites or move to larger premises as necessary without the headache of early tenancy breaks.
The small business economy is big business for the commercial property market. And it’s booming.
There is a shift away from London dominance too as 10 major cities were identified in the study by the Centre for Economics and Business Research (CEBR) and the Hampshire Bank Trust.
Entrepreneurs in Greater Manchester and Leeds are leading the way in the great £241bn small business economy bonanza. Bristol was third and Birmingham 6th.
Commenting on the study, CEBR managing economist said: “This study demonstrates how SMEs are making a vital contribution to city economies across the UK.”
2016 to 2025 forecast of Britain’s small business economy
|City||2016 contribution||2025 contribution||Per cent change2016 – 2025|
|Greater Manchester||£13bn (£13,373,718,500)||£17bn (£16,835,047,500)||26 per cent|
|Leeds||£5bn (£5,435,544,700)||£7bn (£6,844,605,500)||26 per cent|
|Bristol||£4bn (£3,839,627,800)||£5bn (£4,741,697,300)||23 per cent|
|London||£152bn (£152,164,339,800)||£181bn (£180,972,040,900)||19 per cent|
|Tyneside||£5bn (£5,187,149,100)||£6bn (£6,170,773,300)||19 per cent|
|Birmingham||£6bn (£6,426,096,700)||£8bn (£7,612,653,900)||18 per cent|
|Edinburgh||£4bn (£4,450,399,200)||£5bn (£5,253,973,100)||18 per cent|
|Glasgow||£5bn (£5,157,719,900)||£6bn (£6,103,088,100)||18 per cent|
|Cardiff||£3bn (£2,602,141,500)||£3bn (£3,007,878,100)||16 per cent|
|Sheffield||£3bn (£3,457,445,600)||£4bn (£3,933,334,100)||14 per cent|
|Total||£202bn (£202,094,182,800)||£241bn (£241,475,091,800)||19 per cent|