Birmingham Named Top Location For Business Growth

Birmingham has been named as the new hotbed of business growth, following the analysis of the first 3,000 businesses who have worked with GrowthAccelerator.

The national business advice service, which helps companies to grow, said Birmingham was at the head of a trend of businesses starting and growing outside of London - other hubs included County Durham, Brighton and Hove and Bristol.

Business Services account for the largest number of high growth companies nationally, but there are distinct specialisms cropping up in different geographical regions.

In top spot Birmingham, for example, there is a strong trend for high-growth companies to hail from the software sector, whereas in County Durham food and drink companies are registering significant growth.

Infographic showing growth across the UK

Unsurprisingly London registers a higher concentration of media companies, as does Manchester, which has recently become home to the BBC, along with Leeds.

And while ambitious manufacturing companies are located most densely across the north in Sheffield, Leeds and Manchester, there are also a high proportion of businesses in this sector going for growth in Bristol, while Brighton and Hove has emerged as a popular location for ambitious education and design sector businesses.

Simon Littlewood, director of GrowthAccelerator, said the research made clear that the appetite for growth was not limited to specific regions.

"Independent of where they are located, we are seeing a common need among these firms for national and international market connections, with 88% expecting to grow their businesses through new market entry," he added.

"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."

The research also proves that growth is not restricted to start-ups: across the initial 3,000 businesses signed up to GrowthAccelerator, most have been established for between five and 10 years, with the majority of businesses in Birmingham, Westminster, Leeds, Sheffield and Bristol having been established for 10 years or more.

However, in both the London Borough of Camden and County Durham, the majority of businesses going for growth are aged between one and two years old.

Top locations for business growth:

1) Birmingham

2) London Borough of Westminster

3) Leeds

4) Manchester

5) Sheffield

6) Bristol

7) Camden

8) County Durham

9) Brighton and Hove

10) Bolton

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