Gaming Sector helps Midlands Start-ups’ continous Rise

Posted on 18 November, 2015 by Chris Grigorovsky

According to research by Barclays and the Business Growth Fund (BGF), the number of new start-ups in the Midlands is still continuing to rise at a solid rate.

Number of Midlands Start-ups Are Still Rising

The Entrepreneurs Index from Barclays and BGF, a bi-annual series that tracks the UK entrepreneurial lifecycle, reported that the amount of companies starting up has grown by 8 per cent in the year to March 2015, reaching a total of 356,000 in the region.

It was discovered that the key driver in the overall growth was Birmingham’s powerful gaming sector, with 25 per cent of the UK’s gaming workforce is based in the city.

Also reported was the number of active companies which rose by 3.86 per cent and is the biggest rise since 2012 when the index started.

There were however some bumps along the way, as 188 deals were seen, with a wealth creation of over £200,000 over 12 months to the end of June 2015. This resulted in a 5.1 per cent decline on the same period previously.

The proportion of high-growth companies in the Midlands was at 19.8 per cent in the year to December 2014, which is a 2.4 per cent fall from 2013. Apart from Scotland, this was the greatest decline in the proportion of high growth companies of any region in the UK.

Regional Director at Barclays Wealth and Investment Management, Paul Keiser, commented: “The latest Index reveals that the Midlands start-up scene is strong, suggesting our region is continuing to show signs of positive growth and entrepreneurial spirit.

“Undoubtedly the burgeoning gaming sector in Birmingham plays an important role in this, as will have the boost in the number of skilled workers coming to the city, with Birmingham recently being named the number one city in the UK for young people leaving London.”

Gavin Petken, Regional Director of the Midlands at BGF, added: “As long-term equity investors in growing UK companies, we are excited by the size of the dynamics of the addressable market in the Midlands.

“It is very promising to see that the region has seen such a positive rise in the number of entrepreneurs starting up their own companies and I’m hoping their confidence will encourage other business leaders to pursue their own entrepreneurial ambitions.”

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants

BA cuts 12,000 jobs, unions hit back

Media Streaming Service See Record Subscriptions

Covid-19 Causes Millions To Claim UK Furlough Scheme

America, Amazon Wants You!

UK Firms Battle To Survive

COVID-19 Grounds EasyJet Fleet

ECB Emergency Fight Back Aganist Covid-19

Aldi’s Expansion Plan

British Steel on the verge of collapse with over 20,000 jobs at risk

Paris watches as flames engulf one of France’s most famous landmarks

Debenhams on the brink of administration as board reject Ashley’s bid

Emmanuel Macron pushes for a new Europe with European Parliament elections on the horizon

Brexit impacts property market

Brexit uncertainty impacts the property market