Teamwork the key to region achieving goal

And while the England team strives to prove itself on the world stage, Yorkshire’s business community needs to aim just as high.

It stands to gain a huge amount if it does. While London acts as a shop window for those looking to locate business operations in the UK, once they are established in the country companies look outside the M25 for additional places to invest.

Cities such as Leeds, Sheffield and Halifax have much to offer investors, but is Yorkshire doing enough to champion these locations?

The region has a strong talent base, robust public transport infrastructure and high quality of life, but my feeling is that it needs to do more to make its presence felt on a national stage and keep itself in the political spotlight if it wants to attract investment.

One area of expertise that Yorkshire should do more to capitalise on is financial and related professional services.

The industry generates 10 per cent of Yorkshire and the Humber’s economic output and employs six per cent of the region’s workforce, and over the next decade it is forecast to account for more than a quarter of economic growth.

Universities in Leeds are responsible for almost one in 10 of all UK graduates, and Yorkshire has a number of top-ranked universities and business schools with expertise in finance and business education.

While KPMG’s global headquarters are in the Netherlands, it has chosen to base its new Innovation and Solutions Centre in Yorkshire, and is building a new 61,000 sq ft office in Leeds to house its 700 regional staff.

So how can Yorkshire make the most of this rich talent pool? Perhaps, much like bitter club rivals putting those allegiances aside for the duration of the World Cup, towns and cities across Yorkshire must also join together to champion the county’s competitiveness if it wants to secure foreign investment.

Recent research from consultancy EY showed that the UK is now top of the rankings of European countries for global investment, with an increase of 15 per cent over the past year. But we cannot afford to be complacent.

I recently returned from a visit to China, during which I heard first-hand how keen Chinese companies are to invest in the UK, and this week’s visit by the Chinese Premier will provide an opportunity to demonstrate again why Britain is a great place to invest and do business. London is working hard to ensure it becomes the natural RMB trading centre in the West, and this will create high skilled and high value jobs in the City.

But the opportunity isn’t just one for the South. Yorkshire’s deep pool of talent, expertise in banking, and clear leadership in professional services needs to shine through. As the RMB market e xpands there are opportunities for Leeds and for firms across Yorkshire to benefit from the opportunities that will be created.

Yorkshire must take advantage of opportunities such as this; anything less would be a clear own goal.