We benchmarked business startup and enterprise activity in the West Midlands in a report, Benchmarking startup business activity (pdf, 3.43mb), published December 2009.
Drawing on a range of data sources and research, we produced a profile of activity to answer these questions:
- How do levels of business startup activity in the West Midlands compare to those in the UK as a whole and in comparable areas?
- How do levels of startup activity differ for sub-groups, especially women, minority ethnic groups, sub-regions and areas of multiple disadvantage?
- What drives differences in startup rates between regions, and between sub-groups and areas within the region?
- What are the key challenges for policy in terms of startup in the West Midlands?
Key findings
Whilst the total stock of businesses in the West Midlands has been growing, growth has been slower than the UK average. Between 1994 and 2007, business stock in the West Midlands grew by 1.6% per year, compared to 1.8% across the UK. Matching the national growth would have resulted in nearly 5,000 extra businesses by the end of that period.
Property and business services, and financial services, have grown faster than the national average. This growth has been counteracted by poorer performance in sectors such as manufacturing, construction, and mining and utilities. This means there wasn't an overall rise in total numbers of businesses relative to the UK total.
Growth in businesses is stronger in southern and eastern parts of the West Midlands, exceeding the national average in many places.
Self-employment among women and young people is lower than in almost all other UK regions.
However, levels of early-stage entrepreneurial activity were the second highest in the country in 2008 (Global Entrepreneurship Monitor survey).
The most entrepreneurial age in the West Midlands is between 25 and 34. This is younger than the national average.
Read the report
Benchmarking startup business activity (pdf, 3.43mb)