The West Midlands Is Well Used To Being Dubbed “The Centre” Of The Country.
New figures show that – as well as geographically – the region is fast becoming the “Centre of Enterprise.”
Surprised? Well, the statistics make interesting reading. Recent figures show that The Midlands is home to some 317,040 enterprises, second only to the South East.
The West Midlands truly is a burgeoning hotbed of start-up activity – in the past two years, start-ups in the area have emerged faster than any other region in the United Kingdom. In 2013 alone, businesses grew 23% — that’s the highest rate of growth in the entire UK. And, in under five years, the proportion of young people starting business in Birmingham has nearly doubled.
These figures have been collected from leading sources to create the “The Heart of England Brims with Entrepreneurs” infographic (below).
Venture capital has played an integral role in the resurgence of the region and Midven is well positioned to cultivate this swell entrepreneurial activity.
Midven is currently invested in nearly 100 SMEs and growth companies. Ranging from software to healthcare, business services to manufacturing technologies, Midven has £74 million under management.
Recent Midven investments have also saved more than 164 jobs across the West Midlands.
Between 2011 and 2013, Midven helped affordable veterinary care provider, YourVets, realise an employee increase of nearly 48 percent. Similarly, Shropshire-based Igloo Vision, designer and builder of 360° visualisation and simulation domes, doubled its employee count in that time. Midven saved MiGlass from administration by facilitating a secondary management buyout. That buyout provided working capital and ultimately secured 50 jobs. Midven also aided in ten-fold job growth for three other West Midlands companies — Ardentia, Dynamic Change Consulting and ScriptSwitch.
It’s evident that the region is the “centre” of the country in more ways than one. The West Midlands, with its excellent transport links, history of innovation and entrepreneurial rigour, combined with access to strategic venture capital funds, continues to cultivate a new generation of innovators.