According to new research carried out by Bureau van Dijk’s FAME database, there has been a 95% increase in the number of start-ups launching in the city within the last financial year. During 2014/15 almost 13,000 companies were founded in the city, compared with 6,640 the previous year. That amounts to just under a staggering 96% growth rate.
Bristol was the second best performing region with a 83% growth rate, followed by Manchester (77%) and London (70%).
So why is Birmingham achieving such stellar growth?
In part it is due to the extensive support on offer for start-ups via the Growth Hub, which is run by the Greater Birmingham and Solihull LEP. The Hub provides a unified point of access for you start-ups looking for advice and support.
“We are attracting more enquiries about starting a company than any other topic” said Ian McLaughlan, Manager at Growth Hub. “It is clear that greater Birmingham is full of ambitious potential entrepreneurs that want to set up and grow a successful business. The economic strength of this region relies on new companies establishing secure and sustainable plans for growth”.