Although 2015 is set to be a good year for most major cities in the UK according to economists, it is Birmingham that is truly expected to shine thanks to the high number of retail, leisure and hospitality developments in the pipeline. However, it is not only consumer facing industries forecast to benefit from the Birmingham boom year, especially as the West Midlands city has retained its title of most entrepreneurial city in the UK outside of London for the second consecutive year.
According to data compiled by StartUp Britain using statistics gathered by Companies House, 18,337 new firms were registered within the city’s limits during 2014, indicating that entrepreneurship in Birmingham is steadily climbing towards an all-time high. Not only is this total significantly higher than in any other UK city, but it is also a 2,000 business increase upon 2013’s final tally of 16,281.
A large part of Birmingham’s success has been attributed to the large number of assistance programmes and courses on hand for budding entrepreneurs, which provide cheap or even free access to the information required to set up successful small businesses in the long term.
A report by Telefonica conducted in November, entitled “The Rise of the UK Accelerator and Incubator System”, shows that the West Midlands city has more than doubled the number of programmes on offer in only the past two years, providing an almost unparalleled level of support for new and emerging firms.
Marketing Birmingham chief executive Neil Rami believes large scale commercial projects are raising the city’s profile for new businesses – indicating that 2015 will continue to see a high level of start-ups establishing in Birmingham.
He says; “Birmingham’s ability to attract and retain the UK’s entrepreneurial talent has created a thriving eco system of start-ups, which is helping to drive its economic growth.
“Increasing numbers of ambitious new businesses are locating in Birmingham as the city enters a new period of transformation – with schemes ranging from Birmingham New Street’s redevelopment to the transformation of the Paradise Circus area and the impending construction of HS2.”
Correspondingly, the level of inward investment rose as the number of new start-ups grew in 2014, with the Greater Birmingham and Solihull Local Enterprise Partnership attracting more projects than any other region in England. As a result, the city remains a key target for both domestic and overseas investors going into 2015.
Yet it is not only Birmingham which is proving attractive for start-ups according to the research, as the north and midlands regions scored highly overall in terms of the number of businesses registered in the past 12 months. Nearby Manchester, for example, claimed the second place title, with 13,054 businesses establishing in the Greater Manchester area in 2014.
Do you think StartUp Britain’s report indicates that cities such as Birmingham and Manchester may be able to compete on the same level as London as prime international business destinations in the future?
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