The number of start-up businesses in Birmingham has grown by 25% over the last 12 months, according to the annual report from Greater Birmingham and Solihull LEP.
This makes the region the fastest growing in the country with the regional economy being bolstered by 4.7% by all this extra activity.
The annual report reveals that 18,600 private sector jobs have been created in the region over the last year. With a target to generate 250,000 jobs by 2030, 42% of the target has already been achieved.
The GVA for the region now stands at £44.5 billion which is up by £1.8 billion compared to last year.
Chairman of LEP, Steve Hollis, said : “This year Birmingham was named the leading English city outside London for quality of life for the fourth year running and we have worked with our partners to deliver a string of major investments and infrastructure projects across the region.”