Swansea is an increasingly growing city that has lots to offer! You might know Swansea for its beautiful beach views, but this city is experiencing lots of development, making it great for businesses.
Swansea might not have been an enterprise hub in the past, but more and more companies are turning to the city to avoid the high prices and commotion of larger areas, like London.
From great levels of investment to a pool of talent to choose from, Swansea is a great spot that can help businesses thrive.
Businesses in Swansea can do well for the following reasons:
- Home to skilled talent
- Swansea Palace Theatre redevelopment
- Easy access to major cities
- Investment bringing business to the region
- Multiple funding opportunities
1. Home To Skilled Talent
Though Swansea is on the smaller side, the city has a large student population of 29,000 people. This gives businesses in Swansea access to a pool of skilled graduate talent.
There are two universities in the area, University of Wales Trinity Saint David and Swansea University, the latter being among the top 40 universities in the UK.
Swansea University is also geared towards computing and engineering, working with businesses around the area to provide adept graduates and industrial support.
In addition to graduates, 39.4% of Swansea residents are of employable age who own NVQ Level 4 qualifications or above. This puts Swansea as one of the best UK cities in terms of proficient working recruits.
With all this in mind, businesses looking to expand or attract talent should consider taking advantage of Swansea’s skilled population.
With a large student population of 29,000 people, businesses in Swansea have access to a pool of skilled graduate talent.
2. Swansea Palace Theatre Redevelopment
Swansea’s historic Palace Theatre has undergone lots of transformation over the past few years. Built in 1888, the structure has played host to iconic figures like Charlie Chaplin and Sir Anthony Hopkins, but was in tatters after nearly two decades out of use.
After taking the building out of private ownership, Swansea Council partnered with R&M Williams and GWP Architecture to take on a huge renovation project. R&M aim to retain the theatre’s original features, like the timber roof and floor tiles, to sustain the structure’s historical feel.
Hoping to open soon in 2024, the Palace Theatre will be turned into a central area for young businesses in Swansea. while maintaining room for smaller events and performances.
One of the businesses opening within the Swansea Palace Theatre is Tramshed Tech, hoping to initiate its Swansea site as the Palace doors open later this year.
In addition to our space in Cardiff, the Swansea space will form a network across South Wales, supporting Welsh creative and tech industry development.
As is the case with all our other locations, you’ll be able to find our collaborative workspaces, skills training schemes, and startup support programmes within our new Swansea site.
To find out more about Tramshed Tech Palace Theatre, give us a call at +442920103090, or send us an email at swansea@tramshedtech.co.uk.
3. Easy Access To Major Cities
Swansea is in a great location with useful car, train, and coach links. The M4 gives car drivers open access to Swansea. To avoid parking fines, drivers can use one of the two Park and Ride sites, both of which are easy to get to from the M4.
Swansea’s train connections allow you to travel to London in three hours, Bristol in one hour 45 minutes, and Cardiff in under an hour! Swansea train station also gives you frequent connections to other areas in South Wales, like Milford Haven, Pembroke Dock, and Carmarthen.
There are also regular coach services to Swansea all over the UK, with the National Express, Flixbus, and Megabus giving you a few coach options to choose from.
As it’s so easy to get to and delivers access to major cities, Swansea is a prime spot for businesses that prioritise regular meetings and networking events.
In addition, Swansea’s public transport links take the stress out of the employee commute and can help businesses looking to become more green.
Swansea’s train connections allow you to travel to London in three hours, Bristol in one hour 45 minutes, and Cardiff in under an hour.
4. Investment Bringing Business To The Region
The Swansea Bay City Deal is an investment of up to $1.3 billion, bringing significant projects and programmes to the Swansea Bay City Region.
The planned schemes are worth over $1.8 billion and are projected to bring 9,000 jobs to the city, along with Carmarthenshire, Port Talbot, Neath, and Pembrokeshire over the next 15 years. This makes it the largest-ever investment to come to South Wales.
The City Deal projects and programmes are centered around important themes, like smart manufacturing, energy, economic development, and digital. These industries developing within Swansea can consult local businesses on how to make the most of their technology.
Additionally, as these markets establish their place within the city, these areas can turn into business districts, turning into known hubs for said industries. Businesses in Swansea can benefit from the networking opportunities, potential clients, and shared resources that come with this investment growth.
The City Deal projects and programmes are centered around important themes, like smart manufacturing, energy, economic development, and digital.
5. Multiple Funding Opportunities
Swansea offers several grant schemes designed to help smaller businesses develop within the city.
Swansea Council’s Innovation Grant Scheme aims to support businesses developing processes, products, or innovations that assist innovation and growth within their business. Operating via the UK Government Shared Prosperity Fund, the grant has a 50% match funding requirement and offers up to $10,000 of funding.
Other useful grant and loan schemes are the Pre-Start Grant which aims to support start-up businesses, the Website Development Grant which helps businesses create a suitable website, and the Business Growth Grant which aims to support business development through a new service or product.
With several opportunities to help companies grow and develop, Swansea is turning into an environment that supports entrepreneurship, making it a great place to establish a business.
Swansea offers several grant schemes designed to help smaller businesses develop within the city.
There we have it! We hope this post helped illustrate why Swansea is a great location for your business.
We are Tramshed Tech: a startup ecosystem home to 50+ companies ranging from pre-revenue start-ups to scaling businesses with 600+ registered members from the digital, creative and tech communities.
We’re currently based in Grangetown, Cardiff Central & Barry and Newport, soon to expand to our other site in Swansea.
If you’re interested in joining us at any of our locations, please don’t hesitate to get in touch.
