Driving Midlands Growth
The Midlands Engine covers a considerable area. With an output of £220bn GVA, it accounts for 16% of UK exports and almost 25% of its manufacturing output, and, from 2015 to 2016, for the third consecutive year, Foreign Direct Investment secured in the region rose 21%, taking its project count to 155. The region is forecast to average 1.7% GVA growth every year until 2020.
The Midlands’ economic structure will evolve considerably over the coming years as the region undergoes fundamental change through devolution. Our Driving Midlands Growth programme supports its changing economic landscape, providing advice, analysis and insight to help businesses understand, and respond to, the economic environments they operate in – and plan accordingly. We work with both private and public sectors, facilitating the debate between business and government, supporting economic development, growth and regeneration.
Our 2018 UK Regional Economic Forecast has found UK growth is set to be more geographically balanced over the next three years. Our EY Entrepreneur Of The Year programme recognises these fast-growing businesses and our Accelerating Growth campaign helps business owners achieve their strategic goals.
Two decades of working alongside the UK’s fastest growing companies, through Entrepreneur Of The Year, means we are well placed to help businesses accelerate growth.
Where will your growth journey take you next?
Driving Midlands Growth
Over the coming years, the Midlands political and economic structure will change dramatically as devolution drives fundamental change. Our Driving Midlands Growth programme provides knowledge, analysis and insight to help businesses understand the economic environments they operate in, and plan accordingly. We work with both private and public sectors, facilitating the debate between business and government, supporting economic development, growth and regeneration.
UK Attractiveness Survey 2019
The UK remained the number one FDI destination in Europe in 2018, but saw a 13% drop in projects and a decline in investor sentiment. Find out more.
Trends in foreign direct investment in the UK’s towns
Our October 2019 special report shows the UK's largest cities attracting an ever-greater share of inward investment with little sign of spillover benefit for their surrounding areas.
EY Midlands Engine Devolution Survey
Our survey showed that 22% of businesses feel we need more clarification of the term ‘Midlands Engine’.
EY’s Midlands Engine Devolution Survey provides the views of executives from local businesses across the East and West Midlands on what devolution means to them, and what they believe the region’s focus should be.
Infrastructure is their key priority, with 88% suggesting it requires more investment, and roads specifically identified as needing ‘urgent’ improvement. Skills are also seen this way, with many suggesting that links between schools, universities and industry need improvement.
84% said inward investment should be a top priority, and that more should be done to attract Foreign Direct Investment. Almost 42% felt much more effort is needed to help local businesses expand globally by promoting overseas trade.
Our 2018 Regional Economic Forecast finds UK economic growth will be more geographically balanced over the next three years, but cautions that rebalancing is a complex challenge.
The increase in Foreign Direct Investment (FDI) secured by the West Midlands rose in 2016 for the third year in a row. With a project count of 111, this was an uplift of 21% on 2015. The East Midlands had the highest number recorded in any year in the past decade, with a 19% increase over 2015 taking its total to 44 projects.
- 2019 UK Attractiveness Survey
- UK Attractiveness Survey special report: Trends in foreign direct investment in the UK’s towns
- UK Regional Economic Forecast
- Post-Brexit Attractiveness Survey
- 2017 Regional Economic Forecast: East Midlands
- 2017 Regional Economic Forecast: West Midlands
- Midlands Engine Devolution Survey
- EY Midlands Engine Special Report
Across the Midlands with its vibrant, thriving entrepreneurial culture, the middle market in particular is having a significant impact on growth.
This success, however, also brings business leaders the daily challenges of securing growth capital, keeping abreast of the latest technology changes, perfecting internal management structures, and getting the right tools to expand.
Many middle market companies need to become more strategic in their planning and thinking, and in implementing tools such as data analytics and social media presence. These dynamic businesses are export orientated, and hungry for success and expansion – but they also need the right tools to help them succeed.
EY has been active in this market for a long time, and is in it for the long term. We have a long-standing presence as a trusted advisor to middle market businesses through our focus on entrepreneurship and fast-growth.
Entrepreneur Of The Year
Our Entrepreneur Of The Year programme celebrates those building and leading successful, growing and dynamic businesses. Now in its 20th successive year running in more than 145 cities in over 60 countries worldwide, the programme recognises the spirit and contribution of exceptional entrepreneurs.
The Midlands has a hugely diverse and successful entrepreneurial community, and it’s fantastic to showcase the achievements of some of its most innovative businesses as part of EY Entrepreneur Of The Year. The programme supports the enviable entrepreneurial community we have in the Midlands, and celebrates its contribution to the regional economy. To find out more about Entrepreneur Of The Year, contact Neil Meredith.
Accelerate your growth journey with EY Growth Navigator™
You have a vision for your company’s growth. But is your leadership team aligned on how to achieve it?
EY Growth Navigator™ is a unique, interactive experience that enables you, and your leadership team, to assess your company’s capability to deliver your growth plans. It uses the EY 7 Drivers of Growth the product of years of working with hundreds of the most dynamic companies and growth leaders. Please contact Mark Russon to arrange a Growth Navigator session.
Contact our Midlands Partners:
Head of Advisory Services
+44 (0)121 230 1137
Head of Government & Public Sector Services
+44 (0)161 333 3280