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The top two considerations when deciding to locate a business are where a company can attract the right work-force and where it can have best access to link companies, according to new research.
Business start-ups do not solely have to rely on location anymore - companies can group themselves in small pockets in various parts of the country and collectively create "a critical mass" which can "pull people in and attract them from other similar companies," according to Business Link.
The Times 100, a student and teacher business studies resource centre, says that the development of the internet since the mid-1990s means that a business is generally less tied to centres of population.
Online banking and insurance for example can be conducted online using web based and telephone communications.
Similarly, call centres do not have to be located in urban centres anymore. Many jobs have been relocated to where labour costs are lower for example in Northern Ireland and Scotland.
Sunil Mistry, a local area business adviser with Business Link, said: "[An important factor] is looking for access to link companies.
"If a company is doing something that is reliant on a certain range of other companies, then obviously it would want to be in the best environment to access them and be in touch with them quickly."
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