In a recent report based on Quantuma’s Clarity data model, the Midlands has been revealed to have a flourishing manufacturing sector, together with good growth prospects. It also appears to be somewhat of a hotspot for early-stage start-ups.
The Clarity data model has been developed by Quantuma to give a predictive understanding of small-to-medium enterprises’ (SMEs) health in the UK, not just in terms of growth opportunities, but also the distress levels in various regions and sectors, so action can be taken at an early stage to address any identified issues.
When looking at the Midlands, the report found that start-ups that were three years old or younger tended to be considerably less distressed than those in the United Kingdom as a whole. The report also highlights how the United Kingdom’s manufacturing boom is especially visible in the Midlands, where the financial stability and growth prospects of SME manufacturers are 17% higher than their London-based counterparts.
The Head of Quantuma’s office in Birmingham, Richard Easterby, said in a statement that:
“The Midlands boasts one of the UK’s most exciting places for entrepreneurs to set up their businesses. However, it is important to capitalise on the opportunities to spread growth and investment across the whole of the region, especially when it comes to supporting maturing businesses.”
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