Small businesses in the Midlands driving British economy

 
A picture of doom and gloom has been painted by industry experts throughout the economic crisis.  Fuelled by stats that our region was named as having the highest unemployment figures in the UK at one point, there’s no doubt that it has made for bleak reading if you follow the news agenda closely.

During the whole of this period, Grad Central became one of the lone voices that constantly spoke out to highlight that things weren’t as bad as people were making out.  This wasn’t us looking into our crystal ball or trying to make headlines, our optimism was based on the fact that we talk to businesses on a daily basis.  We know the issues facing our clients and we know that in spite of the dreaded ‘R’ word, business in the West Midlands were determined to fight for their lives and were still actively recruiting graduates into their workforces.  

Looking at the latest industry report, we are delighted that this message is starting to come through.  The Barclays Business Regional Impact Index, launched in conjunction with Kingston University, has revealed that small to medium sized enterprises (SMEs) in the Midlands plan to generate the highest number of new private sector jobs over the next year.

The Index, reported all over the national press this week including The Daily Telegraph, showed that employers in the Midlands, which had annual sales of less than £5m, will on average increase their workforces from 49 to 62 people in sectors where the region is particularly strong, including professional services, IT, manufacturing and retailing.  Research also highlighted that firms in Central England have seen the greatest increase in turnover since the beginning of the economic crisis and that the Midlands is the most bullish of regions on future job creation.

The fact that the Midlands is recovering more quickly than others is testament to the fight and determination of the region’s businesses to tackle the crisis head-on.  It also shows how important the contribution of SMEs is in boosting our economic recovery.  Demand for recently qualified and more experienced graduates is constantly growing, with businesses recognising the value that graduate talent can bring to their company is a major advantage.