Characteristics of the regional business environment

In order to understand the characteristics of each regional hotspot’s business environment, a survey was conducted to assess the availability of different framework conditions that underpin the strength of regional business environments. Framework conditions considered include: financial framework conditions; industrial framework conditions; market framework conditions; cultural framework conditions; knowledge framework conditions; regulatory and policy framework conditions; and support framework conditions.

Regional business environmentSummary of findings

  • Knowledge, industrial and cultural framework conditions are rated as slight strengths in the regional business environments surveyed for the pilot scoreboard.
  • Regulatory and policy, support, market and financial framework conditions are rated as weaknesses.
  • Industrial framework conditions are rated stronger for the creative industries and for the market framework conditions there is a particular weakness for the eco industries.
  • There are significant differences in the strength of regional business environments across the 10 regions surveyed. No region ranks favourably for all framework conditions.
  • Financial framework conditions are the weakest.
  • The highest scores are obtained for industrial and knowledge framework conditions.
  • There is a particularly notable difference in market framework conditions between the northern and southern regions, as southern regions have weak market scores whereas northern regions have more positive market scores.