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SOUTHERN entrepreneurs
Entrepreneurial success: The rise of the middle market
Geraint Davies, EY partner in Southampton and across the South Coast, takes a look at the region’s entrepreneurial success and shares some economic insight on what impact future growth in Southampton and across the South Coast will have on the entrepreneurial business community
Middle market is the backbone of regional growth
We continue to see investment across the south region, including increasing foreign direct investment, alongside political developments to create a combined authority. As a consequence, we see growth opportunities for companies looking to expand and grow. The middle market in particular is having a significant impact on growth in the south, with the region constantly being highlighted as an attractive destination for entrepreneurs, with a large percentage of fast-growing companies based in the region.
Middle-market companies come in different shapes and sizes, but what they all have in common is that they are focused on accelerating and sustaining their growth. The middle market is often difficult to define and covers a wide range of businesses from FTSE250, through to privately-owned and PE-backed companies, and fast-growth entrepreneurial companies. Often considered to be the backbone of the regional economy, middle-market firms are providing the jobs, innovation and sustainable growth to spur the region into a sustained period of economic recovery and prosperity.
EY has strong links with entrepreneurial businesses across the South Coast through our London & South Entrepreneur Of The Year awards programme, which last year brought in entrants ranging from C4L, providers of data centre locations and services globally; The Car Finance Company, provider of car finance facilities to consumers and small businesses; and Lucketts Travel, a leading UK coach hire company – all operating in the middle market.
In 2015, the 35 finalists in the London & South Entrepreneur Of The Year awards programme had combined revenues of over £2.8 billion and employed more than 32,000 people across London and the south.
www.businessmag.co.uk Region sees fastest economic growth
One of the contributing factors helping the region to nurture a thriving entrepreneurial culture is the performance of the region’s economy. New research from EY’s regional economic forecast revealed the South Coast is set to grow at a steady rate of 2.2% and the city of Southampton 2.1% in terms of Gross Value Added (GVA) over the next three years.
Economic growth is also thriving for the rest of the Southern regions, with London and other major towns and cities across the south of England continuing to outpace the rest of the UK over the next three years. This approach is one that regions up and down the UK must learn from when shaping their economic development strategies. Successful regions around the world have differentiated and integrated propositions for investors. The South Coast offers excellent transport links and is extremely well connected, enjoying easy access to London, the rest of the UK and beyond. The region has a world-class talent pool and high-quality, competitively priced office space, making it the ideal location to establish and grow a business. Southampton and the South Coast also benefit from having an industry specialisation in financial, insurance and business services, as well as aerospace and defence and maritime. Such factors have proved an irresistible draw to the business community, with companies of all sizes and specialisms choosing to have a presence on the South Coast.
These figures prove that the region continues to attract and retain entrepreneurial talent, and certainly shows no sign of slowing down in 2016. There’s optimism in the air among southern entrepreneurs who are continuing to invest in their businesses and have their sights set firmly on future growth in the region. EY is particularly focused on helping our clients grow and expand beyond traditional markets, while mitigating the risks of operating in an evolving political landscape.
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MARCH 2016
Recognising entrepreneurs on the South Coast
Now in its 30th year globally and 17th in the UK, Entrepreneur Of The Year celebrates the spirit and contribution of exceptional entrepreneurs who can see the future, and through their entrepreneurial businesses, are helping to reshape the regional economy.
As we begin our search for the most innovative entrepreneurs to be named among the next generation of legacy builders, we encourage you to enter our 2016 programme or to nominate an entrepreneurial business leader who inspires you.
Entrepreneur Of The Year offers the opportunity to connect with fellow entrepreneurs and to raise the profile of your business at a regional, national and global level. Joining the network allows you to benefit from EY insight into ways to help you accelerate your business growth, developed over years of working with some of the world’s most inspirational entrepreneurs.
If you would like details on how to enter EY’s Entrepreneur Of The Year programme, contact James Harris, details below.
Details: James Harris 023-8038-2022
jharris@uk.ey.com www.eoy.co.uk
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