In October, Mackie Myers officially launched its third business division, opening up a new office in Oxfordshire. But we’re not the only business to choose to make the county our home. In fact, statistics from the Inform Direct Review of Company Formations*, shows that in 2023 the number of companies in Oxfordshire reached an all-time high of 48,030. Last year alone, 5,446 new enterprises were registered in the region – a 12.5% increase from the previous year.
So, what makes the county so attractive to businesses and talent alike?
Academic excellence
Oxford itself is famous for having one of the world’s most renowned academic institutions, the University of Oxford. This brings with it a number of key advantages. Chief among them is the access that companies have to a highly skilled workforce as well as a range of different investment vehicles based in the area. In fact, the University of Oxford generates more spin-out companies than any other university nationally.
Going for growth
Oxfordshire more broadly also has one of the strongest economies in the UK. Through close partnerships between government, local authorities, business leaders and universities, the region has seen an average growth rate of 3.9% year on year since 2006. It has also been bolstered by institutions such as the Oxfordshire Local Enterprise Partnership (OxLEP), which champions the economic potential of the county and helps to drive a dynamic, sustainable economy by supporting local businesses and overseeing growth programmes.
Innovation and green industries
Innovation is another part of Oxfordshire’s key to success. The county has a proven track record of establishing and attracting some of the world’s leading life sciences businesses, as well as being home to companies at the forefront of other growth sectors such as technology, industrials, manufacturing and FMCG.
And its investment in green energy is second to none. Project LEO (Local Energy Oxfordshire) has been touted as one of the most ambitious smart-grid trials in the UK, aiming to accelerate the region’s transition to a reliable, zero carbon and equitable energy system.
Striving for better
For all these reasons and more, Oxford consistently performs well in the annual Demos-PwC Good Growth for Cities Index. The city topped the charts in 2023 and held its place in the top ten this year.
The report details which of the UK’s 50 largest cities are best performing across 12 different economic measures including jobs, skills, new businesses, income, work-life balance, and transport, among others.
In 2024, Oxford ranked second in the UK in terms of access to jobs, and joint fourth in the category of youth and adult skills, with a greater percentage of people attaining higher level qualifications there compared to the rest of the country. However, Oxford did drop points this year on the categories of housing and transportation.
The good news is that these issues are already starting to be addressed.
Efforts are currently being made to improve the city’s infrastructure, with a strategy in place to redevelop the train station, revitalise the city centre, and build on brownfield land to deliver more housing.
Other initiatives aimed at promoting inclusivity, such as apprenticeship programmes and support for small businesses, are also helping to enhance the appeal of the city.
With its cutting-edge industries, dynamic economy, thriving academic ecosystem and commitment to sustainable development, it’s easy to see why Oxfordshire has become a prime location for both businesses looking to grow and attract top talent, as well as individuals looking to advance their careers.
If you’re a business in Oxfordshire looking to hire, or a candidate looking for your next role, the new Mackie Myers Oxfordshire office would love to help. Contact us on oxford@mackiemyers.co.uk to set up an initial consultation.
*Based on data from Companies House and the ONS (Office for National Statistics)
