19 Nov
In the quest for strategic expansion within the European Union, Lille emerges as a compelling choice for UK companies looking to establish a foothold on the continent.
Nestled at the crossroads of Europe, this vibrant French city offers a unique blend of geographical, logistical, and strategic advantages, making it an attractive destination for businesses aiming to navigate the post-Brexit landscape effectively. The EY 2023 Attractiveness Barometer finds that the Lille region is one of the top regions for foreign direct investment.
Here are 10 reasons why Lille stands out as an ideal location for UK companies setting up in the EU:
- Prime Geographical Location
Lille’s geographical position is arguably its most significant asset. Located at the heart of the London-Paris-Brussels triangle, the city is less than 1.5 hours away from each of these key European capitals by high-speed rail. This central position provides easy access to major European markets and decision-making centres and offers UK companies a strategic base from which to expand their operations across the continent.
- Cost-effective operations
Operating costs in Lille are on average 15% less expensive than its European competitors, with prime office space rents up to 50% cheaper than in other major French and European location
- Access to Talent and Innovation Hubs
Lille’s vibrant academic and research landscape is a magnet for talent, hosting a large student population and renowned institutions specializing in science, engineering, business, and the arts. The city is home to 125 000 students, two major universities as well as several leading business schools and Grandes Ecoles. This rich talent pool provides UK companies with access to skilled professionals and potential collaborators in cutting-edge research and development. The city’s commitment to innovation is further evidenced by its thriving digital sector, exemplified by EuraTechnologies, a leading tech hub that fosters startups and global tech companies alike.
- A British Chamber of Commerce
For UK companies, there is a dedicated British Chamber of Commerce in Lille (BCCI Lille). Given the historical links between the UK and France, this Chamber of Commerce has been in existence for over 100 years. Today it works to help UK companies navigate the complexities of a post-Brexit world and optimise their export strategies or build their on-the-ground operations in Europe.
- On the ground support
Working closely with the Lille city and Hauts-de-France regional attractivity agencies (Hello Lille and Nord France Invest) the BCCI Lille has created a UK Business Centre in the city. This structure is supported by the UK’s Department of Business and Trade and provides physical desk space for companies researching the region as well as free access to an eco system of experts in every field (from company set up to logistics, from commercial property to tax advisors and everything in between)
- English Language Support
All of the support provided by the UK Business Centre in Lille is in English. All of the industry experts, service providers and consultants work with UK companies, know the UK and French markets and can conduct their business in English.
- Pro-Business Environment
Lille is known for its pro-business climate, underscored by supportive local policies, incentives, and a dynamic ecosystem fostering innovation and growth. The city’s authorities are committed to attracting foreign investment and offer a range of incentives for UK companies, including tax benefits, financial aid for research and development, and assistance in setting up operations. Moreover, Lille hosts several business parks and incubators tailored to industries ranging from digital technology and biotech to retail and manufacturing, providing an ideal environment for businesses to thrive.
- Exceptional Transport and Logistics Infrastructure
Lille’s advanced transport network is a cornerstone of its appeal to businesses. The city boasts an extensive railway system, including the Eurostar and TGV, connecting it directly to the UK, Belgium, the Netherlands, and beyond. Lille’s state-of-the-art highways and its proximity to major ports like Calais and Dunkirk further enhance its logistical capabilities, ensuring efficient movement of goods and personnel. The Lille-Lesquin International Airport, with flights to numerous European destinations, complements this logistical network, offering vital air connections that facilitate international business and travel.
- Innovation Oriented Economy
The city hosts five competitive clusters in various sectors, including textiles, healthcare, trade industries, chemistry, and sustainable transport.
- Quality of Life
Beyond the logistical and business benefits, Lille offers a high quality of life, with its rich cultural heritage, vibrant social scene, and relatively low cost of living compared to other European cities. This aspect is crucial for attracting and retaining top talent, making it easier for UK companies to persuade their best employees to relocate.
Conclusion
For UK companies looking to establish or expand their presence within the EU, Lille presents a compelling proposition. The city’s strategic location, superior logistics infrastructure, business-friendly environment, and access to talent create a synergistic platform for growth and innovation. Lille not only offers a strategic gateway to Europe but also provides a supportive ecosystem that can significantly enhance the competitiveness and success of UK businesses in the post-Brexit era.
