West Midlands businesses predict strong growth

Thursday 3 January 2013

Almost three out of five business leaders in the West Midlands are predicting strong growth for their companies in 2013.

Research conducted by GrowthAccelerator found that 58 per cent of firms based in and around Birmingham expect to see up to 20 per cent growth rates.

The study also revealed that 33 per cent of firms located in the region will invest up to £3,000 on their enterprises this year.

Many company bosses expressed an intention to spend more on employee training in the coming 12 months.

Simon Littlewood, head of business growth services at GrowthAccelerator, said that in prioritising investment in staff training next year, fast-growing businesses are showing they have faith in the strength of their business models.

"The impact of the recession has hit hard for many companies and we know from the businesses we work with every day that there is nonetheless huge ambition and drive among the UK’s business owners," he stated.

“We’re seeing an emerging trend for businesses seeking an external perspective on their perceived and actual business challenges, to ensure they’re primed for optimum growth."

Mr Littlewood said the optimism of high-growth business owners does not look set to dampen any time soon.

He claimed that achieving 20 per cent growth year-on-year is "a remarkable achievement" for any business.

"The fact that so many of the business owners we spoke to are aiming to exceed that level of growth is very exciting," Mr Littlewood said.

Posted by Jenny Arthur