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Birmingham tops the bill for business growth in UK

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Birmingham tops the bill for business growth in UK

Recent research by GrowthAccelerator has revealed that Birmingham is leading the way for business growth.

In an analysis of 3,000 businesses, it has emerged that the ‘capital of the north’ may be the place to go for firm expansion, creativity and opportunities. Other main hubs across the UK include Brighton, Bristol and County Durham. As noted, Birmingham tops the bill, while the borough of Westminster in London and Leeds follow in at second and third respectively, with Manchester and Sheffield rounding up the top five.

Sector-specific regions

The data interestingly revealed how some areas were advantageous for sector-specific growth. Here are what sectors the top ten cities specialised in:

  • Birmingham – Software and Business services
  • Westminster – Media and Recruitment
  • Leeds – Manufacturing, Media and Software
  • Manchester  – Manufacturing, Media and Design
  • Sheffield – Healthcare, Manufacturing and Online
  • Bristol – Manufacturing, Food and Drink
  • Camden – Consulting, Apparel, Software and Furniture
  • County Durham – Construction, Food and Drink
  • Brighton and Hove – Education, Manufacturing and Design
  • Bolton – Healthcare, Food and Drink
  • London, of course, led the way for media firms

Simon Littlewood, director of GrowthAccelerator, was quick to suggest however that business growth should not be limited to specific regions as this may shunt wider economic activity. Mr Littlewood said: “Independent of where they are located, we are seeing a common need among these firms for national and international market connections, with 88 per cent expecting to grow their businesses through new market entry. We’re excited by the dynamism and aspirations of the businesses we’re working with and look forward to supporting many more in the future.”

Within the cities themselves, there are districts to look out for. Like the City in London, Colmore Business District in Birmingham is a major hub for business. Around 500 companies are located in the District employing up to 35,000 people and occupying approximately 5.6million sq ft of office space. Similarly, the financial district in Leeds near the train station or Manchester’s Northern Quarter all boast great transport links, stunning high-rise offices and more young professionals than you could shake a stick at.

Business progression

The report also revealed that growth was not limited to just start-up firms. Across the businesses sampled, most of them had actually been established between five and ten years, with the majority of companies in Leeds, Birmingham, Sheffield and Bristol set shop at least ten years ago.

This is a stark contrast with the borough of Camden in London and County Durham. where most businesses that were growing were only one or two years old.

Whether you are an already-established form or starting off, it may be worth considering any of these places. This is not just media hype – with cluster sectors forming in such areas, these will be perfect hotspots to network with leading industry experts and further enhance your business.

GrowthAccelerator is a national business advice service which aims to help companies grow.

I am the founder of Startup Today. I am the main writer and have put in many hours of work into creating this blog. If you want to find out more about me then lets get in contact.

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