Birmingham is one of the UK’s largest cities, boasting a population of over 1.1 million. It has played a crucial role in the history of the UK, as a populous bridge between the economic south and the industrial north, and as a centre for unique innovation and development. It was here that the first man-made plastic was engineered, and it was here that the UK’s postal system took its form.
For the budding entrepreneur, these facts could be taken as valuable clues – pointing to the fact that Birmingham is a uniquely viable city in which to consider starting a business. This has been reflected in the rankings, with many outlets reporting Birmingham as the best city for startups in the UK. But what is it that makes Birmingham so great for new businesses?
A Connected City
Birmingham is frequently referred to as the ‘second city’, on account of its historical, geographical and industrial significance to the development of the UK as a world power. It was the beating heart of early industry, and its infrastructure reflects not only its centrality as a productive city, but also its unique bent for innovation.
Birmingham was one of the first participating cities in a long-distance railway line; today, it is supremely well-connected by rail, as well as by road. Indeed, same-day couriers in Birmingham are made possible by its high quality of roads, and the ease of travel between different areas of the city. For the emerging business, this infrastructure, both internal and between cities, is vital for success.
An Entrepreneurial Ecosystem
Somewhat recursively, Birmingham is an excellent base for new entrepreneurs on account of already having been an excellent base for new entrepreneurs. To start a business in Birmingham is to start a business amongst a thriving ecosystem of independent business owners and SMEs, making for fertile networking and mutual support grounds.
Entrepreneurs are also well-supported by a different kind of infrastructure, being the rich seam of co-working spaces and inexpensive business resources that run through the city. Important, also, to mention localised startup support opportunities via other businesses and academic centres.
A Strong Local Economy
Outside of the entrepreneurial world, Birmingham is a thriving economic centre in its own right. According to the Greater Birmingham Chambers of Commerce, Birmingham’s annual GVA (Gross Value Added) is £40.7 billion, placing it within the top 100 cities in the world economically speaking.
This astonishing figure does not just represent the larger businesses, industries and innovations for which Birmingham is known. It also reflects a thriving independent hospitality sector, and a great many independent makers and businesses that make for a strong retail culture.
Funding and Advice
Last but certainly not least, Birmingham is an ideal location to start a business for the mentorship programmes on offer within the city. Birmingham’s universities have robust mentorship programmes for students, while private-sector funding opportunities open the doors for new business owners looking for the capital to grow equitably. Birmingham is referred to as the second city for good reason, and could be an extremely important ‘first’ for any entrepreneur’s growth aspirations.
