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Leeds has always been a hotbed of business opportunity; after all, Marks and Spencer’s began life here when Michael Marks opened his Penny Bazaar in Leeds Market. The city has continued to flourish as a centre of business and commerce that has become one of the major players of Europe. In an ideal geographical location for business, 2hrs from London by train with it’s own international airport, Leeds is the regional centre for finance and business services, not to mention the region’s main centre for media, retail and is the second largest employer outside London for manufacturing. 440,000 people work in Leeds making the city the third most diverse of any major British city, with a sustained period of employment growth and low unemployment. This diversity means that Leeds is not dependent on a limited number of companies or sectors enabling an extensive range of businesses to thrive. In fact, stock of VAT registered companies numbers over 15,500 – second only to Birmingham. There is a great deal of support for business growth within the city. The LDA provides financial assistance to start-ups and expanding firms in specific locations and well as offering a range of free services to local firms relocating and potential inward investors. Leeds Business Services (the local concession of Business Link West Yorkshire) also provides business support for both new and established companies. Economists at the Henley Centre have identified Leeds as a UK location having above average potential for dynamic growth in the 21st century and based upon the last 20yrs of economic expansion in the city, the new millennium will prove to be a very exciting time for business in Leeds.
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