Birmingham must become the world’s first entrepreneurial city, urges Jenner
SIMON Jenner, head of incubation at Birmingham Science Park Aston (BSPA), says Birmingham must accelerate the rate at which it creates high-growth businesses if the city is to generate new employment and increase its GDP.
The Entrepreneurs for the Future incubation centre at BSPA has supported 54 new start-ups in just over two years, creating 82 new employees and directors in the process but the city as a whole must achieve more, Jenner – who founded the city’s Urban Coffee Company – argues.
“The benefits that entrepreneurs bring to the economy are undeniable. Successful new business result in new jobs and increased GDP – the key factors that have a knock-on effect on the health of the whole economy,” he said.
“But, becoming an entrepreneurial city takes more than the odd press conference and a visionary, but undeliverable statement. We need to establish an entrepreneurial framework to nurture the current and next generation of businessmen and women. Agendas need to be aligned, vested interests smashed, and individuals leading local business support initiatives need to be much braver.”
Jenner argues that branding Birmingham as the world’s first entrepreneurial city would be an international statement of intent.
“If we could multiply the number of ‘high-growth’ start-ups, it would have a massive impact on the Birmingham economy,” he said. “Between 5% and 8% of all private sector jobs were created by high-growth businesses between 2005 and 2008, but there are currently fewer high-growth businesses in this region than almost anywhere else in the country.
“An effective entrepreneurial framework will harness more local entrepreneurs and attract such people to Birmingham. It is then critical that we provide the right environment to retain them.”
Jenner is proposing – among other things – that all start-ups are enrolled on a new entrepreneurial city programme and that new businesses enjoy 100% rates relief for up to two years.”
