Birmingham is churning out startups and new entrepreneurs at an impressive rate. No doubt, Birmingham has now become the best city to start a business in the UK.
The startup to population ratio of Birmingham is better than that of London. So, entrepreneurs who are looking for a cheaper base not far from the capital city London, Birmingham is the best bet.
International MBA students who want to start their business one day have access to reputed Universities in the city which offers ample opportunities.
Here is why Birmingham is the best city to start a business in the UK:
Birmingham has been attracting a considerable amount of attention as new companies are thriving in the city. 18,590 new businesses were launched in 2018 alone earning the city the nickname “Silicon Canal”.
Birmingham’s reputation as a haven for new entrepreneurs is growing day by day. More and more aspiring entrepreneurs are now moving to the city to take advantage of the entrepreneurial ecosystem and network.
There are five Universities in the city which are upgrading their curriculum to keep up with the city’s reputation. Aston Business School in Birmingham is seeing a surge in the number of MBA applications it receives.
Aston Business School co-ordinates the BSEEN Program. This program is a joint venture between all the Universities in Birmingham to help MBA students with their startups. It offers mentoring, startup boot camps and office spaces for all business involved, as per Business Because.
Affordability and stability
With Brexit around the corner, the UK Govt. is all set to end free movement for countries in the EU. With greater curbs to immigration, the UK has offered more incentives to foreign entrepreneurs like the Startup and Innovator Visa.
Aston Business Schools also incentivizes new entrepreneurs who want to set up their business in Birmingham. The Future Leader and Entrepreneur Scholarship provide a $12,000 grant to three MBA graduates who display leadership skills, entrepreneurial experience and innovative thinking.
With London becoming increasingly expensive, Birmingham is fast becoming a much better financial proposition. For instance, office space in London can cost up to $1,800 per person every month. In contrast, you only pay $300 to $550 a month for similar office space in Birmingham.
Funding and investment for the future
The growth of startups in Birmingham is at an all-time high. The future looks even brighter. A new influx of investment aimed at small and medium-sized businesses has propelled the growth of the city.
The UK had launched the Midlands Engine Investment Fund in 2018. Since then, the program has brought in more than $300 million in investments for startups in the area. The program has already invested in more than 150 businesses in the city. The MEIF now accounts for 41% of all the equity investment made in the UK outside of London.
Y-Axis offers a wide range of Visa and Immigration services as well as products to overseas immigrants including UK Tier 1 Entrepreneur Visa, Business Visa for the UK, Study Visa for the UK, Visit Visa for the UK, and Work Visa for the UK.
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