Over the past two decades, Sheffield has been like a phoenix rising from the industrial ashes, transforming into an economic leader with plenty of thriving business. It is no surprise that there are so many offices to rent in Sheffield, considering that it is now a commercial business centre with almost 20,000 running businesses.
Sheffield in progress
Since the 1990s, Gross Value Added (GVA) has increased in the region, while both employment and skill levels having vastly improved. Following a history of declining heavy industry, the city made substantial improvements to its enterprise capabilities, in order to reap rewards in recent years.
Between 1998 and 2005, the number of jobs available in the city increased by a mammoth 22 per cent, and this economic recovery was solely dependent on the impressive performances that business services boasted; in turn creating 16,000 new jobs.
The development and expansion of the two city universities has also helped not only to increase the number of students in the city but it has encouraged further capital investment. With a chain reaction sparking, this has only encouraged high-profile investors to shift their gaze towards the city and make major improvements to the city and its surrounding environment. The recent UrbanSplash and City Garden developments have been such examples of this.
Sheffield in sectors
The city has particularly seen nice growth in real estate, retail and software consultancy services in the past 20 years. There has also been employment growth recorded in professional, managerial, sales and technical skilled jobs. In total, around 240,000 individuals work in the 20,000 businesses that have set up shop in Sheffield.
However, it is the manufacturing sector that leads the way for Sheffield’s economy. Around 11 per cent of the available workforce in the city operate within this sector.
Recent research by GrowthAccelerator has revealed that Sheffield is in the top five cities for business growth in the UK. In an analysis of 3,000 businesses, it has emerged that the city specialises not just in manufacturing, but also in online services and healthcare.
Furthermore, most of the businesses that have been established in the region launched over ten years ago. This points to a certain level of stability that many start-up firm-heavy cities cannot boast. This does not mean however that young businesses should stray away from here. With such a strong supply of Grade A office space and great networking opportunities with other businesses, Sheffield could be the place where your business idea both expands and thrives.
Beyond the facts and figures, Sheffield also is great city culturally. Your employees will want to leave in a cosmopolitan area full of diversity and variety at the end of the day. Whether it is catching a spectacular show at The Crucible or doing the heritage boat trail on a lovely summer’s day, this city has more to do than you could shake a stick at.
Discover the jewel in Yorkshire’s crown. Discover Sheffield’s eclectic and thriving business scene.