It also looks at factors regarded as most important by companies when deciding where to locate. Ease of recruiting qualified staff is considered the most important followed by ease of access to markets and cost and availability of office space. The cost of staff is also a major factor.
Birmingham is also ranked at number one for the availability of office space and car parking facilities and at number two for major factors such as ease of access to markets, ease of recruiting qualified staff, external transport links and cost of offices. It is also ranked at number two as the UK city believed to be 'improving itself'.
Adrian Hill, head of business space, Cushman & Wakefield said: "Birmingham has experienced a renaissance over the last 15 years and its success in this survey is recognition of this. The fact that the city was ranked as the best in the UK for a new corporate headquarters ahead even of London must surely auger well for an influx of companies over the coming years. It looks as if Manchester however will be the main beneficiary with more firms than any other saying they plan to locate there in the next five years. Another great UK city which has experienced a true renaissance."
Other findings in the report:
Impact on business over the next ten years
- Staff recruitment and retention is seen as having the greatest impact followed by bureaucracy and regulation
- Asia generally is seen as an opportunity for business, in particular China and India
- Conflict and terrorism are not seen to have a major impact on business
Relocation/outsourcing
- 23% of companies had relocated to lower cost locations in the past 12 months
- ...with 22% planning to relocate or outsource operations to another lower cost location in the next two years
Company expansion
- Manchester can expect the biggest influx of companies over the next five years followed by Leeds, Edinburgh, London and Birmingham
