Liverpool is still doing business!
Liverpool is highly-rated as a business destination, according to the biggest ever independent survey of city businesses. The Foundations for Growth survey 2008 found that 64% of the 1500 companies who responded said that Liverpool was a good place in which to do business, with 27% giving it the top 5 out of 5 rating.
The survey, commissioned by BusinessLiverpool now part of Liverpool Vision, also showed that the skills agenda was the most important issue for Liverpool businesses, while nearly 60% also felt that they had seen improvements in the city as a place to do business in recent years.
The independent survey carried out by NOP in January this year was designed to build on and update the findings from the 2006 city centre research while investigating ways of removing barriers to growth by drawing out the key concerns of the business community.
And the business community has responded saying that continued improvements in infrastructure, improved local authority services and continued investment and regeneration were key priorities that will make Liverpool an even better place in which to do business.
Business also awarded the city 6.6 out of 10 for business satisfaction on a specially devised index examining eight key areas.
Mike Taylor, director of Investment and Enterprise at Liverpool Vision, said the findings confirmed Liverpool’s recent renaissance, but left no room for doubt: “We are doing well but we must do better, is the clear message here. City centre businesses told us last time that Liverpool was re-emerging as an important business location. Businesses from across the city have now told us that while we are travelling in the right direction there is room for improvement to create the right environment for business to thrive.”
Visit Liverpool Vision for the full report
Other findings from the survey include:
• 64% of businesses anticipate some growth during the next five years – a platform for optimism in the current economic climate.
• 30% of businesses expect to move in the next five years with many requiring larger premises, suggesting a continued dynamic market.
There were no factors where business felt the city was fundamentally failing.
Mike Taylor added: “The aim of the survey is not only to find a benchmark for business satisfaction but also to understand precisely what business needs to maximise our continuing efforts to be a top class business destination, staying ahead of our competitors. This year, because we extended the scope of the survey, we expected different issues to come to the fore. Overall businesses across the city had similar priorities for action, but it is essential that we take on board the views of the neighbourhoods and not just the city centre, so we will be investigating the local findings carefully. ”
Mike Parker, chairman of Liverpool Vision, added: “It is encouraging that the survey responses have been positive and constructive. An on-going dialogue between the public and private sector is vital to identify key issues that will help us take the action necessary to ensure Liverpool is competitive and progressive and meeting the needs of business. We will examine the responses and then ensure the necessary steps are taken for the benefit of business in the city.”
• Liverpool Vision is the city’s new economic development company formed from the merger of Liverpool Land Development Company, BusinessLiverpool and the former city centre Urban Regeneration Company, Liverpool Vision. Liverpool Vision integrates economic and physical development and business and enterprise support designed to accelerate the city’s growth and build a sustainable economy.
• The Foundations for Growth survey was undertaken and analysed by independent economic consultants GFK NOP and SQW on behalf of Liverpool Vision in January 2008, using a telephone survey. The research was carried out in accordance with Market research Society guidelines an consisted of 1500 interviews with Liverpool businesses.
• The research was designed to build on and update findings from BusinessLiverpool’s 2006 city centre research. The 2006 work developed a methodology for beginning to benchmark business satisfaction in the city and is a key way in which to measure broad perceptions, issues and direction of travel for satisfaction within the city.
• The Foundations for Growth satisfaction indexing is innovative, responsive, dynamic and with business in mind. It is an index that will be used over a period of years to monitor progress in business friendliness.
• It is based on business views of the importance and quality of eight key areas: skills, premises quality and cost, safety, cleanliness, business support, transport/accessibility and Local Authority services.
• The first survey, focusing only on city centre businesses, carried out in 2006, revealed that Liverpool is beginning to achieve its goal of business satisfaction, with a score of 6.8/10.
