Birmingham’s run of success has only just started, it seems, with the economy seeing a 4.7% boost in the last 12 months alone, and its position as fastest growing city cemented. For the city’s startup community, success is also on the cards – and the demand for flexible Birmingham office space is growing in response.
The most recent Greater Birmingham and Solihull Local Enterprise Partnership (LEP) report has highlighted the growing importance of Birmingham’s startup community, with the number of such businesses growing by an impressive 25% in the last year.
This has all but ensured Birmingham’s position as being neck-and-neck with Manchester, as the cities vie to become the biggest startup hubs outside of London. The major challenge now is to provide owners with the resources they need to continue growing and provide the city with another glowing report next year: flexible office space.
The relationship between startups and flexible office space is one that will continue to endure for as long as startup owners have the ambition and drive to grow and succeed. Behind the relationship is a very simple need: business owners require a space for themselves and their team to work, which can be grown alongside the business, doesn’t come at a massive cost, and is usually serviced on their behalf.
At the same time, they don’t want to be tied into long term contracts which stifle their expansion and see them continue to pay out for an office space which no longer fits their requirements or adequately houses their team.
This winning combination allows startups to thrive in an environment conducive to their innovative spirit, whilst being taken seriously within the business community, and providing a base of operations for their team. Flexibility really is key in this decision.
A Growing Demand
Of course, this sounds like gold dust to the sceptics among us – and they’d be right to believe that. As a result, demand for high quality flexible office space has grown, but delivery is still catching up.
But then, some of you may be wondering why we need bother with creating flexible Birmingham office space when startups can make do with co-working space, or working from their kitchen table.
As we’ve seen from the LEP report, the number of startups has swelled and the region’s economy has grown: it’s no coincidence that the two have happened side-by-side. As Manchester has found out during its innovative history, small businesses enrich both the business community and the economy of a city or area – and investing in providing the right resources for their success plays a big role in that.
By providing startups with the tools to innovate and grow, cities are investing in their future, businesses are investing in their communities, and potential entrepreneurs are spurred on by the clear message that they will be supported. The result is stronger success for all, and continued economic growth.
Answering Demand for Birmingham Office Space
As you can no doubt tell, we feel quite passionate about supporting Birmingham’s startups, and have championed the provision of flexible Manchester and Birmingham office space.
We feel that by providing high quality, serviced office space at an affordable price and with great flexibility, iHub can actively assist Birmingham’s startup community to continue flourishing for years to come. What’s more, we’re happy to play a role in allowing said startups to grow and evolve into the giants we know they can be.
If the LEP report has taught us anything, it’s that there’s an exciting time ahead for Birmingham and its business community; we’ve already been able to report that the city was voted best for quality of life outside of London, and has seen huge growth in creative industries. As time goes on, we look forward to seeing how Birmingham continues to develop – and how we can help startups to secure the office space they need to thrive.