Why Manchester is a Great Place to Start and Grow Your Business
Patrick Smith, Founder and CEO of zally, and Rick Tahesh recently addressed a group of Canada's local trade representatives. Their discussion underscored why Manchester is becoming a top choice for businesses, highlighting the dynamic business ecosystem in Manchester. Here are the key takeaways for those wanting to set up in Manchester:
Here are some key takeaways from the discussion…
Identify and Exploit Market Gaps:
Continuously analyse your market to identify unmet needs or common problems. Focus on solving specific issues that can provide significant value to your clients.
Manchester has many initiatives to support businesses in growing industries.
Choose the Right Location for Growth:
Research and consider relocating to regions known for their supportive ecosystems and talent pools. For example, Manchester’s collaborative tech environment and resources in digital technology can be highly beneficial for startups.
Leverage Community Support:
Engage with the local business community to build a network of support.
Manchester has an active community of entrepreneurs that are willing to offer support and advice.
Attend local events, join business forums, and actively seek advice and collaboration opportunities.
Foster a Collaborative Business Culture:
Cultivate a culture of openness and cooperation within your team and with external partners.
Encourage sharing of resources, knowledge, and opportunities to enhance overall success.
Accelerators and co-working spaces are great ways to connect with new people to enhance yourself and your business.
Invest in Cutting-Edge Technology:
Allocate resources to research and development, especially in emerging technologies like AI and cryptography.
Stay ahead of trends to address current and future security challenges effectively.
Give Back to the Local Ecosystem:
Organise or participate in events that support the local ecosystem.
Provide mentorship, networking opportunities, and possibly funding to help other businesses grow.
FLIP, created by zally and SoSquared, aims to bridge the investment gap between London and Manchester by directly connecting founders and investors, breaking down the barriers around funding.
Strategic Decision-Making for Business Environment:
Weigh the benefits of operating in different regions, considering factors like cost, talent availability, and community support.
Choose locations that align with your business goals and values.
Manchester is a great alternative to London, with lower costs of living and great transport links to other areas of the UK.
Emphasise Practical and Technological Integration:
Ensure your business operations integrate advanced technologies to improve efficiency and security.
Regularly update and adapt your tech strategies to maintain a competitive edge.
Focus on Sustainable and Strategic Growth: Plan your growth strategies with sustainability in mind.
Avoid over-expansion and ensure that your growth plans are supported by adequate resources and community backing.
Utilise Local Resources and Talent:
Hire locally and invest in training to tap into regional talent pools.
Collaborate with Manchester's local universities, tech hubs, and innovation centres for recruitment and development opportunities.
Manchester, with its innovative ecosystem and numerous tech hubs, is positioning itself on the global stage. By implementing these actionable takeaways, businesses can navigate the complexities of the tech sector more effectively, foster meaningful growth, and make a positive impact within their communities.
Thank you MIDAS for having Patrick and zally on the panel.
