It’s been an interesting year for British trade and investment, with many investors and other organisations deciding to hold off placing their cash in any vehicle before 2019’s political turbulence was resolved. However, with a decisive Conservative majority (of which Harrogate’s local MP Andrew Jones was a part) and at least some semblance of certainty over Brexit, investors are now beginning to think about making investments as time goes on.
This article will explore what the latest business and investment opportunities are in North Yorkshire, and what potential there is for investors to get ahead of the game and start making some cash in this important part of the north.
The advantages of the area
First off, it is worth taking a comprehensive look at the wider investment conditions in Harrogate and North Yorkshire – and how they could benefit you. According to a document produced by Harrogate Council, there are plenty of reasons to do this – not least the location. Harrogate is located almost in the middle of the UK, which means that it is equidistant from various key locations, including Edinburgh, which is three hours away by train, and London, which is a similar distance away. Manchester Airport, meanwhile, is just two hours by car.
It’s also worth remembering that Harrogate is part of not just one but two Local Enterprise Partnership areas, as well as the wider Leeds industrial and commercial area. This means that various authorities have invested the time and effort in ensuring that Harrogate’s businesses can prosper, and that new ones can be set up as part of creating a dynamic and useful economy. For an investor, this is welcome: it means that Harrogate has the infrastructure and support behind its economic scene, which in the long run can help enhance profits.
Harrogate has a range of sectors that form its core industrial appeal, including everything from logistics (perhaps thanks to its great location in the middle of the country) to creative and digital services. Despite not being a university town, it does have a thriving scientific research and development sector. Crucially, all of these industries need properties in which to work and develop.
For those who are looking to invest, then, the first place to look may well be property. All kinds of buildings have been repurposed as offices here in Harrogate, and a quick look at the range of commercial properties available on prominent site Rightmove makes sense. There is a lot of flexibility in terms of the properties on offer: one recent listing at The Matrix at Hornbeam Park, for example, contains five industrial buildings with sizes going from around 8,000 square feet to square footages in the tens of thousands! Other offices come in repurposed old properties, meanwhile – and Harrogate is certainly not short of these.
Business and wealth growth
While Harrogate is certainly not a prime member of the international financial services scene, it’s definitely worth remembering that this small corner of Yorkshire offers a range of financial and professional services that can help you grow your wealth. Over the years, Harrogate – like many British towns – has benefited from the campaigning and lobbying of a range of organisations, including the Institute of Directors
when it was led by Lady Barbara Judge. As a result, Harrogate now has a self-employment rate of 24% – and many of these firms will be looking for people to provide investment capital to help them grow.
As a thriving town in this national commercial environment, then, Harrogate has a number of wealthy individuals and organisations, and a local economy of advisors to match. It’s possible to procure the services of independent financial advisers here, who can advise you on how to use your wealth and connect it to businesses in Harrogate, the wider area, or indeed the world. With 9,200 businesses in the area and an economy of £3.8bn by some measures, there will always be a demand for financial advice here – and if you need to access services in this regard, then it won’t be difficult.
What’s clear, then, is that there are plenty of opportunities available for investors in Harrogate and the wider North Yorkshire region to get their investment hats on and find ways to develop and grow businesses. From the many commercial opportunities posed by local property to the thriving business hub that this region has become, Harrogate and its environs are clearly packed with opportunities to push businesses from strength to strength. With many people here who run their own firms already, the suite of services – such as financial advisors – available is second to none, and is one of North Yorkshire’s finest.