The annual research examines the UK’s 50 largest cities and ranks them in accordance with elements together with work/life steadiness, well being, numbers of latest companies beginning, the surroundings and retail.
Leicester was the highest-performing metropolis within the East Midlands, and was positioned 16th within the index. It carried out nicely for general financial progress, and scored above the UK common in work-life steadiness, new companies, transport, abilities throughout all age teams, earnings distribution and security. It was consistent with the UK common on jobs, well being, owner-occupier charges and the surroundings.
Derby was subsequent highest at 24, Nottingham 38th and Northamptonshire 42nd within the report, compiled by accountants PwC. All of the cities within the East Midlands had been positioned greater than Newcastle, Birmingham and Manchester.
Helen Donnellan, PVC Regional Enterprise and Innovation at De Montfort College Leicester (DMU), mentioned: “That is nice information for the town.
“Leicester has rather a lot to supply by way of assist for brand new companies, its transport hyperlinks, and I believe many corporations have tailored to distant working in a means which has helped their staff’ work-life steadiness.
“We nonetheless have work to do to deal with points similar to abilities however we accomplish that collaboratively, working with employers, the general public sector and training companions to make sure we will equip folks with the abilities they might want to develop their careers and for corporations to develop and assist our economic system.”
The report identifies skills as a key focus for the region, and highlights investment in growing sectors such as agritech, medical technologies, automotive and aerospace as crucial to increasing opportunities for growth.
The five top factors used were income distribution, income, safety, work life balance and jobs. Leicester ranked well for income distribution, making it a fairer place to live when it comes to wages as there is not a big gap between the highest and lowest earners.
DMU supports companies through training and CPD, developing new products and services working with academic experts and runs programmes such as Help to Grow, which enables SMEs to grow their companies through leadership skills development.
The university is also helping to raise the city’s graduate retention rate by working with Leicester City Council to provide placements and job opportunities in the city and county, boosting the numbers of skilled workers in the region.
Its support for start-ups and new businesses encompasses student start-up support through to graduate business incubation programmes and offering mentoring and masterclasses to microbusinesses and networking.
Alex Hudson, Market Senior Partner for PwC East Midlands, said: “The outlook in the East Midlands is a positive one, and it’s pleasing to see our cities generally fairing well in our analysis this year. Aligned with the government’s Levelling Up agenda, local government and employers have a part to play in providing opportunities for people to grow their businesses, careers and skills right across the region.
“That said, the report highlights some areas in which the East Midlands performs behind the UK average, including income and house prices, as well as weaker predicted economic growth. This should be used as a map of opportunity, showing where continued support can have a real impact on improving aspects identified by the public as priorities. The East Midlands will also benefit from the recently announced investment zones, where we will receive £80m of support over five years.
“PwC is continually investing in the East Midlands, using our convening power to bring together businesses and government to make positive changes for the region. Working collaboratively and focussing on some key areas for growth, such as the skills agenda, will lead to improvement across the board for the region.”
Stoke, Peterborough and Plymouth are the most improved cities. The factors are decided through a poll of 1,000 people surveyed across the country which asked them which are the most important to them in considering where to live and work.
Posted on Thursday 25th May 2023
