Unveiling a new map of the nation, the report uncovers a changing landscape, which is populated with new centres for gaming, wind farms and robotics dominating the traditional map of UK industry - which was plotted with factories, power stations and livestock.
The report, from HSBC Commercial Banking and The Future Laboratory, predicts that the economic downturn, increased emphasis on internationalisation and changing demands on business will profoundly alter the UK's ‘business map' as the 21st century unfolds. It is forecasting a new regional geography with the birth of five new ‘supercities' and a map of tomorrow populated by nanotech, cybernetics and a growing emphasis on bio and tech sciences driven by new economic income streams.
According to the report's authors, the changes are being driven by the recession, which will create an emphasis on interpersonal skills in business; technological advances; the demands of many for new and flexible ways of working; more business trade taking place across international borders, and a rise in entrepreneurship. It predicts that what the UK has been known for since the industrial revolution is set to change, and fast.
According to the research there will be a new-look UK with hot business hubs focusing on:
Robotics (Edinburgh, Birmingham, Essex, London, Manchester, Plymouth)
Biotech (York and Dundee)
Nanotech (Oxford, Cambridge, Newcastle, Durham, Bristol, London)
Stem cell research (Edinburgh, London, Cambridge, Liverpool, Manchester)
Nutraceuticals (Dundee/Southampton)
Renewable energies (London, Wales, Cornwall, Glasgow)
Cybernetics (Reading)
Gaming (Dundee, Edinburgh, Glasgow)
Report author, Martin Raymond said: "In the last decade, the notion of the ‘culture capital' became a buzzword, as cities such as Cardiff, Newcastle, Gateshead, London and Liverpool worked with so-called ‘starchitects' such as Norman Foster, Richard Rogers and Wilkinson Ayre to create business opportunities and global profiles. We are about to see innovation, technology and wireless connectivity being used in the same way, according to our panel of experts.
"They predict the rise of ‘supercities' and regions such as Newcastle, Leeds, Liverpool and Brighton over the next 20 years. These supercities and regions will derive their status, income and prestige from new economic income streams such as biotech, stem cell research, innovation, gaming and even alternative work practices and business models."
The report identifies four new ‘types' of entrepreneurs that are set to capitalise on the current environment and drive the changing landscape forward. From transpreneurs - ‘an elite new breed of super-global entrepreneurs... with connections and workspaces all over the world' - to referral economists - who have emerged from the social networking boom, are ‘always on' and are building businesses on word-of-mouth alone, the report finds these groups are rapidly shifting the way we work and do business in the 21st century.
Noel Quinn, head of HSBC Commercial Banking UK, said: "The face of business is changing and while we are in tough economic times, this report unveils some positive new trends that could alter the shape of the working world tomorrow.
"We are already committed to supporting businesses over the long-term, helping them shape and develop for future success. We are already spending 30% more time with customers this year to understand their changing needs, and we have developed unique mobile banking initiatives on both BlackBerry and iPhone to help our customer retain their flexibility. And we have established the most comprehensive international banking network through our unparalleled global reach and increased numbers of global relationship managers available to ensure that we can help our customers make the most of their future business opportunities."
