Birmingham remains the most entrepreneurial UK city outside London, according to data released by StartUp Britain. Analysis of Companies House data shows that 14,152 new businesses were registered in Birmingham during 2015 – a significantly higher number of new companies compared to all other regional cities.
Manchester follows in second place with 8,712 companies registered, and Leeds is third with 6,926. Birmingham was also the most popular regional destination for start-ups in 2013 and again in 2014, according to StartUp Britain.
Sue Summers, Chief Executive of Finance Birmingham, said:
“Although Birmingham recorded fewer new company registrations than in 2014, it remains a highly popular location for start-ups and entrepreneurs. The city offers a large, skilled and youthful workforce, established infrastructure and strong digital connectivity – all of which are critical to helping new ideas and ambitions flourish, particularly in the creative and tech sectors.
“The ability to provide a range of flexible funding opportunities to SMEs underpins a healthy business environment for entrepreneurs. Finance Birmingham recently started working with Ascension Ventures, which provides equity investments to early-stage digital media and tech firms, to ensure that local firms in these industries are supported as much as possible. The development and extension of more national and regional funding programmes, so they can be offered to a greater number of new businesses, will help Birmingham to further establish its reputation as a national start-up hub.”
Ian Mclaughlan, Manager of the Greater Birmingham & Solihull Growth Hub, commented:
“It’s very positive news that Birmingham remains a hotspot for entrepreneurship, recording more new business registrations than any other UK regional city in 2015. It’s clear that there are significant numbers of aspiring business owners in Greater Birmingham – at the Growth Hub, we are dealing with them every day. The Growth Hub has so far received over 1,000 enquiries from across the region, with more people asking about setting up a company than any other topic.
“However a fall in company registrations in Birmingham, compared with 2014, demonstrates that the region must continue to provide a comprehensive network of support for new businesses. We need to be flexible enough to recognise the potential in a company, even if it hasn’t fully started operations. The majority of enquiries to the Hub are about access to finance, which remains a critical factor in ensuring that companies can have the best possible start – and realise their full potential long-term.”