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Stifled Entrepreneurs told: "Come to Cornwall"
- County's new business start up rate is growing faster than UK average, and new businesses are thriving
- Further £440m investment over next six years in Cornwall's business infrastructure
Cornwall has today launched a nationwide campaign to attract frustrated entrepreneurs to relocate to the county. The new campaign, from economic development organisation Cornwall Enterprise, is part of a drive to attract Britain's brightest business brains away from the shackles of London and other urban centres to boost the county's burgeoning knowledge economy. The call to relocate comes as Cornwall prepares to invest £440 million of European funding over the next six years that will further transform the county's business environment.
While the UK average number of new business start ups per 10,000 population has declined by 2.5% over the past three years, Cornwall's new business trend is moving in the opposite direction, and grew by almost 9% between 2005 and 2006. Furthermore, the county boasts a higher business survival rate than any other region, with three quarters of new businesses still trading after three years. This compares favourably to urban centres such as London, where the survival rate is 10% lower. In addition, the county has improved road and air links and has a mature business support system. The 'Escape: Relocate' campaign throws Cornwall's business doors open to people seriously considering a fundamental life change.
"Working in huge urban conurbations seems to be less and less attractive to people. According to the Office of National Statistics, 207,000 UK nationals emigrated last year," said Lucy Hunt, Manager at Cornwall Pure Business, Cornwall Enterprise's inward investment arm.
"But a move out of the city needn't mean a move out of the country. The work/life balance possible here in Cornwall, coupled with the strength of business networks in the county, means entrepreneurship is not only thriving, but in some cases outperforming other areas of the country. We're saying to frustrated entrepreneurs who are fed up with their quality of life - if you want to start or build a business in an inspiring, innovative environment, come to Cornwall."
The campaign highlights not only the work-life balance advantages of moving to Cornwall, but also the opportunities offered by the county's changing business environment. Locally-matched European funding of £350m over the past six years has been instrumental in boosting the infrastructure in Cornwall to make it more competitive. The European Commission has highlighted the county as a best-practice example of effective use of these funds to deliver sustainable economic benefit:
- The expanded Newquay Airport now links Cornwall directly with London, other parts of the UK, and abroad.
- There has also been extensive investment to boost the broadband network - Cornwall now has the highest saturation of broadband of anywhere in the country with 99% coverage across the area.
- 2001 saw the creation of the Combined Universities of Cornwall, an innovative partnership between eight higher education institutions, which is providing a wide range of higher education choices across the county, as well as access to significant R&D opportunities for business.
Recent research commissioned by Cornwall Enterprise has shown that people living outside the county increasingly recognise that businesses are being run more efficiently in Cornwall, that it is a good place to start a business, and that Cornwall offers a good work-life balance.
Lucy Hunt continues: "Cornwall is traditionally only seen as a tourist destination, but this does not accurately reflect the rapidly growing business culture that exists within the county. Cornwall is now home to many innovative, hi-tech businesses as well as a plethora of creative and entrepreneurial companies. The business landscape has changed significantly in the past five years due to the substantial investment that has been carried out. We want anyone fed up with their daily grind, perhaps even thinking about emigrating, to seriously consider starting afresh in Cornwall. We have a lot to offer."
Those interested in experiencing the climate of freedom and innovation that makes Cornwall so appealing to entrepreneurs and growing businesses should visit www.cornwallpurebusiness.co.uk to find out more.
Click here to hear an interview with Lucy Hunt- Inward Investment manager commenting on 'City Slickers go West '.
Cornwall Pure Business is a service of Cornwall Enterprise