Glasgow’s lower costs and supply of technology graduates tempting financial services firms away from London



In a short piece in Insider magazine, with no actual figures quoted, Technology recruitment specialist Harvey Nash report a growth in the number of firms moving out of London attracted by Glasgow’s lower office-space costs and the strong supply of technology graduates, from the greater city area’s four universities.

Financial services are, of course, almost entirely technology-based and no longer need to be physically located in London’s financial district.

This is another of the numerous positive indicators emerging from the Scottish economy and reported here:

Business growth in Scotland well ahead of UK average

Scottish business confidence soars to three and a half-year high

And another one: ‘Scotland Revealed as Top Place in UK to Launch New Business’

77% of Scotland’s small and medium-sized businesses report success as Scottish Government reports record numbers exempt from rates and in the wake of figures revealing much greater signs of distress among rUK businesses.

£226 million given in relief to small businesses in 2017-18 as part of most generous scheme in the UK

40% increase in number of new Scottish businesses mainly under SNP government

Scottish businesses showing signs of greater health than those in the rest of the UK

Quality of life factors for staff  were not mentioned but will be important too. Taking just two examples, Glasgow’s plummeting crime levels, lower than any English university city,  and free HE tuition will have helped. See, for the former:

Scotland’s university cities by far the safest places to send your children


4 thoughts on “Glasgow’s lower costs and supply of technology graduates tempting financial services firms away from London

  1. John March 3, 2018 / 10:23 am

    Great , Scotland has always been good in the financial service area , now if we can get some of the London market into Glasgow with our cheaper office space and graduates , we can have two centres of excellence !

    Liked by 2 people

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