The UK city of Peterborough confirmed its status as an economic magnet in 2019 with more than 1800 companies registering during the year.
This took the total number above 10,000 for the first time as Peterborough and the surrounding area of Cambridgeshire attracted a record number of new businesses. Popular sectors included professional services, scientific and technical enterprises, transport, accommodation and food.
“As an international centre for world-leading research and innovation, the county continues to attract new enterprises and start-ups to join its successful cluster,” said a local business leader.
Peterborough’s net business creation has been well above the national average for several consecutive years, with good transport links to London, lower-than-average property costs and high productivity. Official figures show that the city employs more people in business administration, financial services, IT and communication, retail, motor trades and health than average, with tens of thousands of jobs in each area.
A recent survey named Peterborough as the fourth fastest growing city in the UK, with businesses likely to grow more quickly than elsewhere. It has a high proportion of innovative businesses and can draw upon skilled workers both in the city and the wider region. In 2022 a new university is planned for Peterborough, which will further improve access to qualified employees.
GRE Assets has a major residential development in Peterborough – Nene Wharf Apartments – part of a £120 million riverside regeneration scheme