Our new report; Building Future Growth on a Heritage of Excellence is available for download on the Bibby Financial Services blog today. The report focuses on the West Midlands area and coincides with the opening of the West Midlands Business Centre on October 8th.
The report contains a survey of over 1,000 SMEs throughout the UK as well as additional third party research. Highlighted within the report is the growing confidence among business owners within the West Midlands.
Historical place of business growth
The West Midlands has a long history of being a hub for business. Going back to the industrial revolution the area has been renowned as a manufacturing centre, producing goods which were in demand all across the world.
Today the region is well known as a technological hub and has been affectionately dubbed the ‘silicon canal’. The region has seen great leaps in tech start-ups and business leaders in the area have helped grow and encourage entrepreneurship and a go getting start-up culture in the area.
Strong growth for SMEs
SMEs are showing strong and ambitious plans for growth in the West Midlands. Our research finds that over three quarter of SMEs (76%) invested in their business in the three months leading up to October. This puts the West Midlands at the forefront of growth in the UK.
Business leaders in the region are confident of creating 10,000 new technology jobs by 2020. According to GrowthAccelerator, a national business advice service, Birmingham in particular has been identified as the top regional hotspot for businesses going for growth.
Vision and appetite
The West Midland’s appetite for success is matched by Bibby Financial Services which works side by side with businesses in Wolverhampton, Coventry, Birmingham and throughout the region. Bibby Financial Services wants to support businesses by making sure the right financial solution is in place to enable growth.
The opening of the West Midlands Business Centre shows that Bibby Financial Services have made a commitment to this thriving locality. And our research shows that the heavy investment made into recruitment and training in the region will help fuel further recovery in the area and the UK economy as a whole.
Funding solutions for growing businesses
If you’re a business owner looking for funding to assist business growth and you’re based in the West Midlands or anywhere within the UK, you should contact Bibby Financial Services to find out more about our cashflow solutions. To get in touch, visit: Bibby Financial Services or call 0800 91 95 92.