We were interested to read recently that 63 per cent of entrepreneurs were thinking of moving out to London. What better place to come, thought Business Argus, than the Newport area.

So we asked the local business community what they thought of the idea:

James Norvill, chief executive, GD Environmental, Newport

There is no denying that the British capital dominates the UK economy, but there really is life for businesses outside of London. Wales is a highly attractive place to do business. In comparison to London it can offer a number of obvious benefits with the issue of recruitment being one. Gwent offers a much larger pool of staff from which to choose, which in turn can positively influence the current unemployment rates. With the cost of living being dramatically lower in Newport than London, we can recruit and retain talented staff at a lower rate of pay. Business overheads in Wales also makes Newport an attractive place to do business, with property value being considerably lower, meaning cheaper council and renting rates. Newport offers excellence transport links to the rest of the UK, whether it is by road or rail, or further afield, with international travel readily available by air at our neighbouring city Cardiff. We also avoid heavy congestion and the associated charges.

John Newell, Kingston Newell Estate Agents, Newport

Newport is very much a city on the up. The regeneration of the city centre, proposed improved transportation links including the M4 relief road and faster train service to London will all provide benefits to entrepreneurs considering moving from London. The cost of living here is significantly lower than the south east of England and arguably the quality of life is a lot better here with improving schools and higher education establishments. The area is home to a rich mixture of leading public and private sector organisations which has already started to attract young professionals. In my opinion Newport and the surrounding area has a lot to offer the entrepreneurs considering leaving London.

Luke Welsh, head of employment law, Howells Solicitors, Newport

Pinewood Studios, Admiral Insurance, the Office of National Statistics and many other leading organisations have chosen to set up significant operations in the area over the last 18 months. A lot has been done to promote the area as a business location with the proposed improvements to the transport infrastructure also proving to be popular. Newport’s close proximity to Cardiff and Bristol and the lower living costs attracts commuters to the area. I still think more could be done locally as other regions on our borders are able to offer business incentives to companies operating in specific industries, this should be replicated here to ensure a level playing field.

Peter Heathcote, managing director, Budget Vets, Newport

Newport has a lot to offer and our business has certainly benefitted from being located in the area. Why should entrepreneurs consider relocating to the area? In my opinion it’s a combination of the benefits being providing by the regeneration of the city centre and transport links, the affordable housing both in and around Newport and a large local talent pool of potential employees comprising a good mixture of skilled and unskilled candidates. The area has raised its profile by hosting high profile events including the Nato Summit and Ryder Cup demonstrating to a global market what we have to offer here, we need to keep looking for other similar opportunities and make the most of them.

John Reid, business development manager, Centric Recruitment, Newport

For those thinking of leaving London and starting a new challenge across the water then Newport in South Wales must be high on their agendas. The face of Newport is changing, for the last 15-20 years the town has been stripped of its dignity but now it’s on the rise, Newport is changing dramatically. Projects and investments have already delivered huge transformations for the city, investments of up to £250m are giving a fresh momentum to the city regeneration programme. Newport is the phoenix rising from the ashes and will become a city punching well above its wait, don’t miss the ride, get a ticket and join us on the ride of the century!

Zep Bellavia, managing partner, HardingEvans Solicitors, Newport

Location, a skilled workforce and work-life balance - Newport/Gwent/Monmouthshire has it all! Location is key to all businesses, with Newport ideally-placed on the M4 corridor providing ease of access with London, the Midlands and the South Coast only two hours away. In comparison to London, Newport offers significantly lower operating costs and property prices. Newport is a city on the rise, not just in Wales but in the UK as a whole, currently attracting vast investment in terms of money, energy and enthusiasm by people and businesses which either care about the city or can see the real potential here. Entrepreneurs are increasingly considering Newport as the place to be and to join the big players such as Admiral, Friars Walk and HardingEvans, who realise the potential that the city and its people deliver. The area also provides amazing opportunities for a healthy work-life balance, as we are about 30 minutes from glorious beaches, mountains and the vibrant Capital City of Wales. All entrepreneurs at some point will need a good lawyer and we have some of the best in the country.

Kevin Morgan, NatWest regional director of business banking for Wales

Newport and the wider-Gwent area has to be high on the list of places to start up for any entrepreneur. We have the University of South Wales offering an innovative and collaborative approach to entrepreneurship in south east Wales. And we boast a strong community of organisations such as Indycube and the Effect projects in Blaenau Gwent and Torfaen which between them provide support, signposting, co-working spaces and networking opportunities. NatWest, working with social enterprise Entrepreneurial Spark, is due to open two ‘hatcheries’ in the coming months across the Great Western Cities region – the first in Bristol this summer, followed by one in Cardiff early next year. This will offer an opportunity for entrepreneurs from around Gwent to get involved in an intensive six-month programme of mentoring, events and potential investment. This is an exciting time for entrepreneurs in Gwent, whether home-grown or those relocating from elsewhere.