The county of Surrey is well-known for its abundant natural beauty, quaint villages, and historic market towns – but it is much more besides. Beneath its tranquil setting and picturesque landscapes lies a thriving business hub. In 2023, there were approximately 62,000 SMEs in Surrey, drawn by the affluent population and wealth of opportunities.
Surrey boasts a strategic location, a highly skilled workforce, access to global markets, and a supportive business environment, making it a top choice for small to medium-sized businesses.
Whether you’re a seasoned entrepreneur owner or just starting your business journey, Surrey offers fertile ground upon which to build. Read on for Butt Miller’s helpful guide on what makes Surrey a great place to set up shop.
If you are looking for accounting support in Surrey, Butt Miller is a trusted and experienced firm of chartered accountants. We help many local business owners in Surrey establish a strong financial foundation, including core services like bookkeeping, payroll, personal wealth planning and business advice. Contact us today to discuss your needs.
6 reasons to set up a business in Surrey
Let’s get straight to the point and highlight the 6 best reasons to start a new business in Surrey.
1. A robust economy
Surrey’s economy is a significant contributor to the UK economy, generating an annual output of over £43 billion. There is a high concentration of active businesses, with approximately 600 active businesses per 10,000 residents, exceeding the average in South East England by c.23%.
In 2020, Surrey County Council outlined the county’s economic strategic vision up to 2030, with an emphasis on sustainable growth through innovation, inclusivity, and environmental stewardship. The outlined aims to drive the county’s high-tech economy through increased research and development and to create well-connected communities with enhanced housing, employment, and amenities.
The forward-thinking strategy highlights Surrey’s commitment to maintaining a dynamic economic hub through sustainable development, providing local and new business owners with the confidence they need to grow.
Source: Surrey’s Economic Future (Surrey County Council)
2. Free and accessible support
Starting a business is no easy task; it takes determination, focus, and a lot of energy. One seed doesn’t grow a forest, and to survive, new businesses need a collaborative environment along with accessible resources.
Fortunately, Surrey has plenty of free business support for entrepreneurs and small businesses. From advice on funding opportunities to mentorship and networking, you’ll find plenty of resources to help you at every step of your journey.
Here are some key resources available to businesses in Surrey:
Surrey Chambers of Commerce: A well-established business network, Surrey Chambers offers a range of resources, including training workshops, networking events, and general advice to assist local businesses in growing. Help is available to all, from the ambitious start-up to an established limited company.
University of Surrey’s partnership with SETsquared: If you’re in the tech or innovation sectors, the University of Surrey offers one of the UK’s top-rated business incubators through the SETsquared Partnership. It provides start-ups with mentorship, office space, and access to investment networks.
Federation of Small Businesses (FSB): Surrey County Council works closely with the Federation of Small Businesses (FSB). The FSB offer local networking opportunities, training, guidance on compliance, and legal advice, among many other things.
3. Strategic location
In business, location matters – and Surrey is perfectly placed for both domestic and international trade. London is between 20 and 40 miles away, and train journeys into the city take between 30 and 60 minutes, depending on your starting point. This makes Surrey ideal for businesses that want to access London’s markets and resources without the capital’s sky-high overheads.
Nearby Heathrow and Gatwick airports offer easy access to global markets, and major motorways like the M25 and M3 provide quick connections to key towns and cities across the South East and beyond, ensuring Surrey businesses are well-connected.
4. Skilled workforce
The county benefits from a skilled workforce, which is essential for ambitious small businesses seeking the best talent. 18.6% of the population are employed as managers, directors, or senior officials, and 24.3% are in professional occupations – both figures surpassing regional and national averages.
The county’s workforce spans a range of sectors, from creative industries to tech startups, meaning you can find the right people to help your business grow.
In addition, leading institutions like the University of Surrey actively encourage innovation, meaning that businesses in the area have access to some of the brightest minds in the country.
5. Access to innovation and technology
Surrey businesses are leading the charge when it comes to research and technology. The Surrey Research Park is a hotspot for start-ups and companies in fields like AI, health tech, and sustainable development.
Being part of this collaborative environment means more than just access to resources and gadgets; it enables companies to build connections with potential partners, collaborators, academics, and industry leaders.
6. Affluent area
The average full-time wage in Surrey in 2023 was £42,882 compared to England’s average of £35,100. This makes it one of the wealthiest counties in the UK, offering ample opportunities for growth in sectors like retail, leisure, and professional services.
Surrey offers a quality of life that attracts wealthy professionals. With a choice of excellent schools, picturesque landscapes, and a wealth of heritage and culture, it’s a place where people want to live and spend their money.
Looking for an Accountant in Surrey? Choose Butt Miller
Starting a business comes with its fair share of challenges, but Surrey has everything entrepreneurs need to thrive. That includes high-quality financial services from firms like Butt Miller. With decades of experience supporting local businesses, we provide chartered accounting services to help small businesses stay compliant, confident and competitive.
Whether you’re a new business or looking to scale, we offer a wide range of services, from simple bookkeeping to corporation tax management. Our team can provide the expert advice and guidance you need to succeed in the glorious county of Surrey.
Contact us today to discuss your needs and pick our brains about the local business community.
See how we helped a construction business based in Surrey to improve company finances.
