More for your money in North East England
Businesses coming into North East England benefit from low wages and property costs, in addition to a low cost, but high standard of living. The standard of education, training and apprenticeships are some of the best in the country. The bottom line is that you get more for your money in North East England.
North East England has one of the most cost competitive and loyal workforce’s in the UK, offering companies up to a 43% saving on staffing, skilled or otherwise, compared to Inner London at the other end of the scale.
“The factor we found quite interesting was our staff retention rates. I think the norm in customer service centres is around 15% turnover, but what we’ve experienced in the past four years in our service is that it’s about 5%, which is very low. Therefore, what we found was the staff retention by being located in Newcastle is very, very strong.”
Bryan Taylor, Estates Director, Balfour Beatty
In 2015, Grade A office space in North East England was £347 per sq m making it, on average, 82% cheaper than London, 46% cheaper than Paris and 29% cheaper than Dublin. (Property costs = rent + taxes + service charge).
In the same year, Grade A industrial space was £77 per sq m, giving companies a saving of between 25-41% on the rest of the UK.