Birmingham a hot spot for new manufacturing start-ups – Barclays

BIRMINGHAM has been revealed as the nation’s top spot outside of London for building a new manufacturing business, according to figures from Barclays.

There have been around 1,850 manufacturing start-ups in the local area in the last three years, a very strong performance in light of the recent economic turbulence, Barclays suggests.

The bank’s figures also reveal that manufacturing start-ups have the highest average turnovers of all business start-ups. More than 16% of all manufacturing start-ups achieve a turnover greater than £100, 000 in the first three years, compared with an average of 10% for non-manufacturing businesses.  

Jeremy Stockdale of Barclays said: “Behind these businesses are the people who are building the UK’s manufacturing future. They are creating new jobs, driving innovation and utterly disproving the idea that the UK doesn’t manufacture.

“At heart, Brits want to make things. We’re good at it and the quality of our product is often exceptional, thanks to a highly educated, skilled working base. The UK has a world-class reputation for manufacturing excellence.

“These start-ups are building businesses for which the sky is the limit. A healthy turnover in manufacturing in the early years can lead to one, two, ten million pound businesses in a handful of years.”

Birmingham is followed in the table by Kent, Essex and Lancashire.