Birmingham, cradle of the start-up revolution
The Times draw from the Centre’s new company formations analysis to cover Birmingham’s startup scene
The renewed energy in the city has encouraged entrepreneurs to put down roots. “Ten years ago, there was a very mediocre feel about the place,” said Veejay Lingiah, chief executive of education technology business Learning Labs. “Now confidence is on the up. Everything we need is available here.
[But] It is not all glory for Birmingham. Like the rest of the UK, the city saw a fall in company formations last year. Overall, the number of start-ups created in Britain last year fell 13.7% to 589,000, according to the Centre for Entrepreneurs. The figure includes distortions, such as businesses classified as contractor accounting firms, which allow individuals to reduce their tax bills by working as a contractor.
Excluding distortions, Birmingham saw a 5.1% year-on-year drop in the number of companies formed. That was less than the average fall across the country, though still disappointing. Nonetheless, the long-term picture looks good, according to Street.
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