Throughout 2017, LDC is searching the entrepreneurial heartlands of England, Scotland and Wales as part of its Backing Business Ambition tour, to uncover and showcase Britain's most inspiring and ambitious businesses. Today, we visit Oxford.
The “city of dreaming spires” is one of the most exciting and dynamic local economies in the UK. Last year, Oxford was ranked as the sixth most competitive city in Britain because of its strengths in engineering, bioscience, medical instruments and publishing.
The diversity of the economy helps to protect it against socio-political challenges, while the world-renowned University of Oxford remains one of the greatest drivers of the city’s productivity.
The oldest university in the English-speaking world currently generates around £2.3bn a year for the Oxfordshire economy alone, and supports 33,700 jobs in the county. The university is also the key to the area’s long-term success.
It was revealed that it has produced more founders of billion-dollar start-ups than any other institution in Europe. An analysis of tens of thousands of Google search terms also found that Oxford ranks as the best place in the UK to start a new business.
Beyond its economic footprint, Oxford is a great place to live and work. A recent survey of 3,000 Brits named Oxford the UK’s most satisfied city. Within easy reach of both London and the Midlands, its central location makes it a perfect launchpad for firms with national ambition.
Backing Business Ambition 2017