Reasons to Start a Business in Durham

Are you living in Durham and wondering about starting a business here? We understand you may have many questions about creating a startup in this area. So, we’ve put together some information to help you find the resources you need to get your business off and running!

 

Why Choose Durham? 

Durham is a thriving city with a diversified economy. This, alone, makes it a great place for startups. What’s more, the city offers five universities, which provide a huge pool of talent. The universities are famous for their world-leading research and collaboration efforts with local businesses. In addition, Durham offers a workforce that’s one of the most loyal, which means low employee turnover and lower recruitment costs for your business.

The city also features six major ports that serve international markets around the globe. What’s more, the area also features a growing AI and computer games sector, along with plenty of space at Durham’s NETPark for businesses dealing in the sciences, engineering, and technology.

Durham also features plenty of natural areas to enjoy when you’re not working. The area features a national park and two areas that provide access to stunning nature not far from the city.

These are some of the reasons you should choose Durham for your startup business! But we’re not finished yet! We’ve only shared some of the highlights of the area with you. Next, we’ll take a look at the great business support you can find in Durham.

 

Business Support—It’s the Best

When you’re a startup, it takes all your time and energy to get things done. It’s not easy; however, Durham offers some great business support.

The area offers access to the following for businesses:

  • Business Durham Opportunities Programme (DBOP): this organisation is geared toward helping Durham businesses thrive and grow by linking them with the best opportunities around. They can help with finances, information & support, business engagement, driving innovation, and much more.
  • Durham Council: here, you’ll find all kinds of support for local businesses.
  • North East Growth Hub: offers personal assistance for businesses, including finance & funding, and business support.

These organisations provide advice and guidance, along with information on various types of financial support available to you and your business.

 

Financial Support

Starting a business takes a lot of capital, which means it’s necessary to find the right financing for your business. Durham won’t disappoint you.

You’ll find a wide range of financial support in Durham that not only helps when your business is just starting out. There’s support for each stage of your business, too.

You visit Maven Finance Durham’s site for additional information. They offer debt and equity funding from £150,000 all the way up to £2 million, flexible funding for growing businesses, and more.

 

Networking Community

Durham also offers a strong networking community, which holds regular events all across the county. You can find a list of events at Business Durham.

Networking is always a great way to connect with other businesses and professionals in the community. In fact, networking is especially helpful for connecting with like-minded business professionals. What better way to meet others and find a mentor who can offer insights and guidance to help your business thrive.

 

DCI

DCI is Durham’s incubator program. This program offers a 6-month course that increases your skills, provides access to a network and wide range of course leaders, successful entrepreneurs, and local business professionals.

The goal of DCI’s program is to ensure your business is a success. You can find more information on DCI’s website on how to participate in this amazing program.

DCI is ready to support businesses based in Durham that are less than a year old. They’re ready to help entrepreneurs launch startups that have a great potential to grow. They also work with students and alumni of Durham University & New College Durham.

 

Local College and University Support

When starting a business, you may be going it completely alone. However, in Durham, that’s not necessary! That’s because there’s plenty of support from the area’s Durham University and New College Durham. Both of these schools offer graduate programs that allow you to access students who can offer more support for your company.

Students and graduates who are filled with innovative ideas, as well as an extra pair of hands, are a great way to help you run the business. Not only that, but you’ll also be helping students and grads gain first-hand experience of the business world. This provides them with the chance to become a great resource for employers in the future!

 

Durham Business & Connectivity

Along with excellent business resources in Durham, the region also provides you with excellent transportation links to the rest of the country and more. The city provides both national and bus and train links within the city. In addition, there’s easy access to the A1 and A19 motorways, along with two airports. No matter where you need to do business, it’s easy from Durham.

However, you may never need to leave the city due to a large number of business opportunities and contacts right in the area!

 

Work/Life Balance

Durham also offers some of the greatest work/life balance around. Consider the fact that there are coastlines, dales, forests, a national park, and more in this area. Durham offers the best of everything—there’s no need to travel long distances to enjoy museums, nature, and more when living in Durham.

Just a short drive away, you can enjoy the stunning coast. It’s also easy to visit the nearby forests and parks for walks, peace, and relaxation!

What’s more, Durham has a lower-than-average cost of living, which means you can enjoy more when you live in this area!

 

Summing It Up

As you can see, there’s a wide range of business support, including financial support, for businesses in Durham. Along with that, you’ll find a ton of things to see and do, as well as plenty of nature to enjoy.

So, what’s stopping you from starting your business in Durham today?

 

Our Commercial Properties in Durham have everything your business needs to thrive! Contact us for more information.

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