Why set up business in the West Midlands
It is no surprise that in recent years the West Midlands has ranked as one of the UK’s leading regions for attracting Foreign Direct Investment (FDI).
Located at the very heart of England, discover the West Midlands’ world-class, internationally significant economy and thriving business eco-system, underpinned by the UK’s youngest and most diverse population.
Home to 4.7m people and with an economic output similar to that of Slovakia, the West Midlands is one of Europe’s most dynamic, forward-looking and ambitious metropolitan regions.
Whether you are looking to establish an existing business in the UK or selecting an exciting start-up location, the West Midlands is the ideal place. We are here to help you get started.
UK Overview
GVA in 2022, with an average GVA per employee of £67,904
people live in the UK, 41m of whom are of working age
air transport system in Europe
in Europe for unicorn companies
of the lowest corporation tax rates in the G20
new high speed rail line connecting key economic destinations
UK Economy
GVA in 2020, with an average GVA per employee of £63,717
Foreign Direct Investment projects in 2020/2021
people live in the UK, 41m of whom are of working age
graduates per year
students attending UK universities
labour costs than Italy, France or Germany
UK Connectivity
air transport system in Europe
Home to one of the top 5 busiest airports in Europe
largest urban rail network in Europe
Well-located for travel to and relations with major markets in Europe and N. America
infrastructure that supports the number one tech sector in Europe
superfast broadband coverage
UK Key Sectors
Business, Professional, Financial Services including Fintech, Green Finance and Innovation
Creative & Digital Technology including Cyber Security, Creative Industries, AR and VR
Low Carbon including Zero Emission Vehicles, Sustainable infrastructure and Greener Buildings
4. LS Life Sciences and Healthcare including Medtech and Biopharmaceuticals
Advanced manufacturing including Aerospace, Rail and Food & Drink
Capital Attraction including Real Estate and Brownfield Innovation
UK Quality of Life
is the average house price
affordability ratio for homes in the UK compared to the average salary
median household disposable income FYE 2022
Four of the top 10 universities in the world
Affordable Health Care
arts, culture and sports
Overview
economy, making the West Midlands the largest economy of any Combined Authority
GVA growth rate of any UK Region outside London over the last 10 years (2010-20)
people live in the West Midlands
of the UK's population is within a 4 hours' drive
of the population is under 20, making it a significantly young region
The West Midlands is the fastest-growing tech economy in the UK
Economy
GVA growth rate of any UK Region outside London over the last 10 years (2010-20)
people live in the West Midlands
economy, making the West Midlands the largest economy of any Combined Authority
worth public sector
worth of goods exported from the region in 2021
worth of goods were imported to the region in 2021
Connectivity
Birmingham Airport handled 12.7m passengers in 2019
of the UK's population is within a 4 hours' drive
At the heart of the UK's motorway network, making it easy to access from any direction
Easy access to Birmingham and East Midlands Airports
A major UK rail hub at Birmingham New Street Station
Key Sectors
The West Midlands is the fastest-growing tech economy in the UK
added to the national economy by the West Midlands' BPFS sector
Advanced Manufacturing sector founded on our shared history of industrialisation
contributed to the national economy from the Low Carbon sector
of all motor vehicles exported from the UK in 2021 came from Birmingham
of all goods exported from the region in 2021 were vehicles and parts
Quality of Life
A quarter of the population is under 20, making us a significantly young region
people migrated from London to the region in 2020
More people move from London to the West Midlands than to any other Combined Authority
schools rated 'Outstanding' by Ofsted
better off when living in the West Midlands compared to the South East
tech hubs, collaboration spaces and centres of excellence
Overview
is the average salary enjoyed by those working in Coventry
automotive OEM vehicle brands based in the city
of only two UK cities that will run an all-electric bus fleet by 2025
game studios in Leamington 'Silicon' Spa,
City of Culture for 2021-2022
of people are better off living in Coventry when compared to London and the South East
Economy
people live in Coventry (2021 Census)
is the average salary enjoyed by those working in Coventry
of investable infrastructure is under development
investable infrastructure related to transport technology
educated to degree level - more than Nottingham and Newcastle (ONS, 2020)
students studying at Coventry’s two universities
Connectivity
is situated at the heart of the UK’s motorway network
to get to Manchester, Cambridge or London Stansted via direct trains
hour to get to London by rail
to reach 90% of the UK's population by car
to get to Birmingham Airport by train from Coventry train station
to East Midlands airport with London Heathrow only a 90-minute train journey
Key Sectors
automotive OEM vehicle brands based in the city
Beneficially close proximity to the supply chain and R&D manufacturing facilities
of only two UK cities that will run an all-electric bus fleet by 2025
business students study here, more than in other UK regional city
game studios in Leamington 'Silicon' Spa
employed in the local gaming sector, 15% of total UK gaming workforce
Quality of Life
migrate to Coventry from London (6,519) than Manchester (4,303) and Leeds (3,990)
Leamington Spa was ranked the happiest place to live in Britain by Rightmove
One of the top 5 locations in the UK for fast and ultrafast full-fibre broadband
place in the UK to own an electric car, according to recent rankings
great sports teams, Coventry City FC and Coventry RFC, call the city home
City of Culture for 2021-2022
Overview
economy, the largest of any UK city outside London
is the average salary enjoyed by those working in Birmingham
number of employees of any core city in Future Mobility and Advanced Manufacturing
total population in Birmingham, 734,000 who are of working age (ONS, 2020)
train journey to get to Birmingham Airport from the city centre
Economy
economy, the largest of any city outside London
of investable infrastructure under development
is the average salary enjoyed by those working in Birmingham
businesses, the most of any regional city (2022)
students graduate each year, supplying the local talent pool
Most Investible City according to PwC and the Urban Land Institute
Connectivity
The average time you'll have to wait for a bus
connected city in terms of rail links
to get to Liverpool, Leeds and Bristol on direct trains
of the UK’s population is within a four-hour drive
train journey to get to Birmingham Airport from the city centre
and you can be in London, Manchester, Oxford and Nottingham
Key Sectors
number of employees of any core city in Future Mobility and Advanced Manufacturing
FDI projects landed in the city’s ever-growing £6.2bn BPFS sector in 2021/22
Modern Business Service companies based in Birmingham (more than any other core city)
growing tech sector in the UK
2020's most popular destination outside London for conferences and events
Quality of Life
total population in Birmingham, 734,000 who are of working age
better off living in Birmingham when compared to the South East
people educated to degree level - more than any other UK core city
of the population under 25 years old, one of the youngest cities in Europe
Michelin-starred restaurants in Birmingham, with more across the West Midlands
home affordability ratio
Overview
people live in Wolverhampton (Census 2021)
to get to London by rail
new Jaguar Land Rover engine plant, generating supply chain opportunities
The choice of location for the Department for Levelling up, Housing and Communities
Recently ranked the second-best place in the UK to raise a family by MoneySuperMarket
of investable infrastructure is under development
Economy
people live in Wolverhampton (Census 2021)
people here are educated to degree level or above (ONS, 2020)
is the average salary enjoyed by people in Wolverhampton
of investable infrastructure is under development
students are studying at the University of Wolverhampton
graduates per year are produced by the university
Connectivity
to get to London by rail
to get to Manchester on one of the direct trains
of the nation’s population is within a four-hour car journey
to get from Wolverhampton to Birmingham Airport by train
direct destinations can be flown to from Birmingham Airport
investment to create an integrated city centre transport hub
Key Sectors
of high-value manufacturing and construction
new Jaguar Land Rover engine plant, generating supply chain opportunities
The choice of location for the Department for Levelling up, Housing and Communities
quality jobs and talent are attracted to Wolverhampton as the most successful Enterprise Zone in the UK
Quality of Life
recently as the second-best place in the UK to raise a family by MoneySuperMarket
of residents are better off living in Wolverhampton compared to London and the South East
home affordability ratio which is better than the national average
Overview
economy, making the West Midlands the largest economy of any Combined Authority
GVA growth rate of any UK Region outside London over the last 10 years (2010-20)
people live in the West Midlands
of the UK's population is within a 4 hours' drive
of the population is under 20, making it a significantly young region
The West Midlands is the fastest-growing tech economy in the UK
Expert talent
A talent pool as skilled as it is diverse and deep. Nothing matters more than attracting and retaining the right people for your business. Our deep and diverse talent pool is arguably our biggest asset, and it’s growing further.
Fed by nine world-class institutions producing 60,000 graduates each year, with 55% graduate retention in the region, you’re more likely to find the right people to develop and expand your business here than anywhere else.
Best connected city-region in the UK
Connectivity is king in the global economy, and at the heart of the UK, the West Midlands is the best-connected city region in the country.
At the centre of a connected transport network of air, rail, tram and bus rapid transit systems, the region has close proximity to London and is within a four-hour drive for 90% of the UK population.
In addition, High Speed 2 (HS2), the country’s new high-speed rail network and Europe’s largest infrastructure project, is transforming the region’s connectivity and economic landscape. Find out more on how your business will benefit from HS2.
Travel around the West Midlands
Sitting at the heart of the country, the West Midlands is one of the most well-connected regions in the UK. Getting here and moving around our cities is easy and accessible. It gives companies here a significant advantage when importing, exporting, or dealing with logistics.
By air
Birmingham Airport is the international gateway to England’s Heartland, with 54 airlines flying to over 250 destinations worldwide, seeing 12.7 million passengers in 2019. Not only is it one of the most well-connected airports, it also provides a direct main-line rail connection right into the city centre.
By rail
The West Midlands is home to one of the largest, most-integrated rail networks outside of the capital. Our rail infrastructure is accessible and convenient, be it for business or pleasure, within the West Midlands or beyond. Birmingham city centre has three main-line rail stations, providing fast and frequent connections to numerous destinations.
By road
Set at the heart of the UK motorway network, Birmingham and the surrounding region is linked by the M5, M6, M40 and M42. Companies with transit needs beyond the scope of the railway system can remain fully connected with suppliers, while day or single-event visitors can easily access our venues.
£117bn
UK’s largest regional economy, equivalent to that of Slovakia.
Economic scale
A region of positive growth
With ten years of uninterrupted pre-pandemic growth, the West Midlands’ £117bn economy will continue to grow rapidly over the next decade. The population of 4.7 million is also rising, with 32% of residents under 25, making it one of the youngest in Europe.
That’s why the West Midlands is wholly committed to investing even more into the region and its people, unlocking everyone’s potential and improving everyone’s quality of life.
Innovation heartland
A hotbed for creativity and innovation
From industrial to innovation heartland. The West Midlands was once the cradle of the world’s first industrial revolution. That kickstarted a tradition of innovation, productivity and progressive thinking, which remains ingrained across our region. The qualities and values set to underpin our exciting future are the curiosity, tolerance, and inventiveness that helped make the West Midlands what it is today.
Today, you’ll find an industry-led R&D powerhouse of accelerators, hubs and testbeds; all engineered to help get you to market successfully, at speed and scale.
Cost effective
A region of competitive costs. Birmingham and the West Midlands’ lower operating and living costs than the capital and other international cities have made the region one of the UK’s most compelling locations to do business.
Average office rentals in our three cities are very competitive compared to other cities. For example, the average office rental in Birmingham is 4% lower than in Manchester for new stock and 45% less for secondary stock. And despite the economic and business strengths of the region, salaries remain competitive for employers, with average residents’ wages 6% lower than the national average.
The region’s affordability ratio (average salary to house price), an important indicator for relocating staff and helping to ensure a better quality of life, is well below the average for England as a whole and lower than other cities, including Bristol, Edinburgh and Cardiff.
Quality of life
Enjoy a high-quality lifestyle for less
There are many reasons why more people looking to move from London decide to move here rather than anywhere else in the UK. More than one in two of our graduates chose to stay in the area after completing their studies, and so many companies increasingly choose to bring their businesses and their people here.
We’ve identified three essential quality of life elements where the West Midlands outperforms many other destinations in the UK, Europe, and the world, summarised simply as Live, Learn and Earn.
Growth Company
Fully funded market entry support
As the region’s official IPA, the West Midlands Growth Company can offer you an inward investment soft-landing support package to help get you established and settled while investing in the UK.
You’ll benefit from a fully-funded package of commercial workspace, market entry and business acceleration support, plus all our standard business support services.
