Introduction

Liverpool is a city in the midst of a renaissance - in every sense of the word. Born originally from its strategic location and maritime capabilities, it is undergoing a re-birth as a Style Mecca and commercial hub, as well as Capital of Culture.

The renaissance is tangible: with more than £1 billion of investment committed to the city centre, the landscape of Liverpool is changing seemingly by the day, with striking architecture and glass towers reflecting the confidence in a bright future. The development activity cuts across Liverpool's traditional strengths and new found 'it' city status. From the £750 million, 42 acre redevelopment of the Ropeworks, which will include upmarket retail and leisure alongside residential, to the Fourth Grace, which if nothing else will elicit strong opinions, Liverpool is rebuilding its identity.

The resurgence of Liverpool is not only built on capital investment - though clearly the cash always helps - but on Liverpool's optimism, confidence and sheer determination. While the expansion of the John Lennon Airport, Liverpool's new cruise liner terminal and the numerous residential developments are all excellent economic indicators for the city, it must surely be the fact that Liverpool's people are 100% behind the city and its plans for renaissance that is driving excitement and confidence across the region, the country and beyond.

Liverpool is already reaping the benefits. Unemployment has dropped to around 4% and is still falling. The level of development taking place is driving new job creation, not only in construction related industries but end user sectors including retail and hospitality, as well as Liverpool's traditionally strong sectors; professional services, automotive, bio-sciences, pharmaceuticals and tourism. House prices are rising and the investment capital flooding 'must have' residential areas like Canning and Princess Park looks set to have a knock on effect on regenerating some of their less fashionable neighbours.

Liverpool's Capital of Culture success has undoubtedly been a catalyst for much of this activity as residents and businesses alike look forward to welcoming the world's attention in the run up to 2008.

As the countdown continues, the city needs to ensure that it gets the balance right. The new Liverpool needs to be a renaissance, rather than a reinvention - much of what Liverpool has to offer from its rich past is still valid and highly attractive, to both potential residents and tourists. However, there is a danger that pride in Liverpool's heritage is obscuring its current achievements.

To help gauge how far Liverpool is getting it right, Weber Shandwick North commissioned some research amongst Managing Directors of businesses operating within Liverpool to assess their views on priorities for the city. The research also addressed perceptions of the city, both within Liverpool and from outside the region, and asked respondents to highlight where they feel the city's potential lies.

The results demonstrate that Liverpool does need to focus on both developing its infrastructure and communicating its commercial goals and successes outside the city if it is to achieve its 'World Class' objectives. While the potential for tourism is reflected within the research of a major asset, the potential for other sectors, most noticeably property-related, was clearly indicated. Cutting across this is a clear indication that Liverpool must enhance its image outside the city if it is to gain the inward investment and positive media interest it needs to fulfil its commercial potential.

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