Britain ‘depends on the success of businesses’

February 7th, 2013 Category: Office Cleaning

Britain's long-term prosperity depends heavily on the ability of its businesses to succeed and expand, an expert has insisted.

According to Marcelino Castrillo, head of small and medium-sized enterprises at Santander Corporate & Commercial, this will ultimately determine the future course of the UK economy.

As a result, he believes it is "vital that all stakeholders in this endeavour encourage and foster business growth".

"The UK economy, is after all the aggregate of our businesses – the more vibrant and successful they are – the more vibrant and successful we all are," he commented.

Mr Castrillo was speaking after research by Santander Corporate & Commercial Banking identified Westminster as the top borough in London when it comes to business competitiveness.

The firm examined criteria in each of the city's boroughs such as its broadband connectivity, the depth of talent in the workforce and the rate of business growth to find out which area offers the most favourable business conditions.

Westminster was ranked in first place, ahead of Kensington and Chelsea, Richmond-upon-Thames, Camden and Islington.

Author of the report Professor Francis Greene, from the University of Birmingham, said the findings reflect the fact that some parts of the country have "more business momentum than others".

He pointed out that the best-performing areas are doing well partly because of investments in infrastructure, transport and education.

"It is reasonable to assume that many businesses have benefited from prior investments in such areas," Professor Greene commented.

He went on to point out that while some parts of London excelled in all categories, other areas still performed well in certain areas. For example, he noted that Sutton, Bexley and Bromley all secured strong ratings for wellbeing, while Haringey, Lambeth and Hackney were found to offer excellent web connectivity.

Businesses might therefore need to determine which aspects they consider their key priorities when moving into office space in London. However, Professor Greene suggested that wellbeing cannot be overlooked by businesses, as it is often a reflection of better employment conditions and higher earnings.