Right in the heart of the UK, the East Midlands is exceptionally located and commands a quality of life that is hard to match. It has vibrant urban centres that meet miles of unspoilt countryside and borders five others regions, making it an excellent, central location for any business looking to relocate.
The fourth largest region in the UK, the East Midlands provides 6,000 square miles of homes and businesses, supported by an admirable transport infrastructure. The area stretches from Derbyshire in the north to Northamptonshire in the south, just 50 miles from London. It also encompasses Nottinghamshire, Rutland, Leicestershire and Lincolnshire.
The East Midlands offers the perfect location for companies looking to grow, with a vibrant community of 125,000 small and medium-sized enterprises (SMEs) that employs 1.4m of a total workforce of 2m people. The region is also home to over 1,000 overseas businesses and has attracted big names including Rolls-Royce, Boots and Toyota.
Central force
The East Midlands combines excellent road, rail, air and sea links to enable access to the other major business centres of the UK and most of continental Europe within a day. The major towns and cities have a range of public transport systems, such as Nottingham‘s state-of-the-art trams.
Both of the UK‘s major north-to-south highways pass through the East Midlands: the M1 from London to Leeds and the A1 from London to Edinburgh, ensuring 99% of the UK is within a day‘s drive. The East Coast, West Coast and Midland Mainline railways run through the region, with two dedicated rail-freight centres at Corby and Daventry, giving rapid rail links with the rest of the UK and Europe. Commuters and business travellers can be in the capital in around an hour and, once the Eurostar connection is completed at London St Pancras in 2007, Paris and Brussels will be just four hours away.
Nottingham East Midlands Airport (NEMA) is within 15 miles of Nottingham, Leicester and Derby, allowing access to over 90 business destinations. The airport is an employer of over 6,500 people in the local area but it goes much further than employment. As a dedicated freight hub, NEMA offers impressive delivery times for freight operators across the globe and serves Toyota, Rolls-Royce and Boots with its cargo operation. It is also DHL‘s UK base.
The region is also home to 10 high-flying universities, with both Nottingham and Loughborough consistently ranked in the UK‘s top 15. Between them, East Midlands universities have over 160,000 students and produce more than 44,000 graduates a year. Their focus on pioneering research is world renowned and spans areas as broad as medicine, space science, sports science and technology.
Graduates in the East Midlands are earning a reputation for employability. The region has the UK‘s highest proportion of graduates currently in work, with a rate of 93%. One of the secrets to their success is their relevant and desirable skills: the East Midlands boasts more technology and engineering students than any other region (8.4% compared to 6.5% nationally).
The East Midlands also boasts a strong telecommunications system, thanks partly to its central location. Over 97% of the East Midlands population now has access to broadband, while the region has the second highest business connectivity to the internet in the UK and 25% of organisations now actively trade online.
In terms of the workforce, the East Midlands labour market is comparatively strong. Recent figures show the region‘s employment rate currently stands at 75.8%, compared to a national average of 74.3%.
The right premises are another essential ingredient for any successful business and the East Midlands has a huge property portfolio, ranging from modern city centre offices to historic listed buildings. With one of the lowest average rents for industrial property in the UK, the East Midlands is an extremely cost-effective business location.
Support network
East Midlands Development Agency and its sub-regional partners work together to offer comprehensive, free and confidential support to both new and existing investors looking to set up or grow in the region, both for international and local firms.
There are a number of different initiatives running in today‘s business world aimed at increasing the numbers and quality of businesses setting up, growing and thriving by providing targeted financial support. One such initiative is the Business Link scheme, which in the East Midlands is the first in the UK to move away from a county model to a regional model.
There is also a range of funding opportunities for a variety of businesses across the East Midlands. Transport equipment, construction, food and drink and healthcare are all strong productivity drivers with excellent prospects for growth, and measures are being put in place to ensure skills and training providers can offer carefully matched support to those businesses operating in these sectors.
The East Midlands has some of the shortest travel-to-work times in the UK – with an average of 21 minutes – making it easier to strike that elusive work/life balance. There is a great choice of locations from the rugged Peak District to the wide open Lincolnshire coastline; the market towns of Newark and Rutland to the rapidly expanding Northamptonshire; or vibrant Nottingham, Derby and Leicester.
Wherever the chosen location, the region offers a wide range of affordable homes, from Victorian townhouses to modern city apartments and traditional rural cottages. Prices are typically 50% lower than in London and 30% lower than in the south-east.
After hours
From live music to excellent restaurants, café bars and pubs, the East Midlands has an energetic social scene. It is renowned for its shopping, with Nottingham consistently ranking in the UK‘s top five shopping destinations. Theatres, music venues and comedy clubs pull in big names and the next few years will see a £119m investment transform the region‘s art infrastructure.
There is a dynamic sporting reputation across the East Midlands. It boasts one of the world‘s most famous cricket grounds at Trent Bridge and a range of professional football clubs including Nottingham Forest, Notts County, Derby County and Leicester City. International motor sports events at Silverstone, Rockingham and Donnington are also popular across the UK and beyond.
The East Midlands has set itself the aim of becoming a flourishing region by raising productivity, ensuring sustainability and achieving equality. It aims to be a region made up of growing and innovative firms, where skilled people are employed in good quality jobs. If you‘re looking to start up or expand a business, the East Midlands has something to offer everyone.
Caroline Shutter is head of communications at East Midlands Development Agency (EMDA)