Solihull Solihull Chamber Patrons
Economic report shows Solihull is a force to be reckoned with
By John Lamb
report on the area has revealed. ‘Doing Business in Solihull: An Economic
S
Snapshot’ provides detailed insight into Solihull and its economy, and was launched by Solihull Chamber of Commerce at its Solihull Expo at the Holiday Inn, Birmingham Airport. The 16-page report has been produced
following extensive research by the policy and strategic relations team at Greater Birmingham Chambers of Commerce (GBCC), of which Solihull Chamber is part. It finds that in general, Solihull is a ‘relatively
affluent’ area, with higher house prices and people working full-time earning more money and having a higher disposable income than the rest of the UK. Economic output (GVA) has more than
doubled since 2010, largely driven by a resurgent automotive and aerospace sector. Meanwhile, Solihull town centre is home to more than 500 businesses, of which 48 per cent are professional services or office sector, and include key players such as BNP Paribas, National Grid, Paragon, N Power and Xoserve. But there are clear divisions with the most
deprived areas of the region concentrated in pockets of lower socio-economic neighbourhoods. It has a lower proportion of young residents (16-24) and higher proportion of older (64+) residents than the national average. Lillian Elekan, head of Solihull Chamber, said:
“As an active part of the Solihull business community I know that it’s a force to be reckoned with – and this report proves it. It shows that Solihull is already a great place to do business with potentially transformative opportunities just on the horizon. “Forthcoming large-scale investment has the
potential to drive significant growth. The challenge will lie in ensuring the benefits are distributed fairly across the borough. “Moving forward, we must work to address these
issues so that local businesses are able to access the skills and talent they will need to take full advantage of the opportunities in the years ahead.” The report highlights a number of major
projects that are expected to lead that growth, including the HS2 interchange station in Solihull. This will form part of the UK Central Hub which is forecast to boost the local economy by £2.1bn as well as creating between 35,000 and 77,000 full time jobs and 3,000 new homes. Solihull will share the benefits of the Birmingham 2022 Commonwealth Games by staging six of the 17 sporting events at the NEC.
olihull outperforms on skills, earnings and growth but faces challenges from an ageing population and inequality, a new
Solihull Chamber president Robert Elliot said:
“Existing business and community leaders in Solihull are fortunate that their predecessors made a number of decisions that have led to the strong position the Economic Snapshot illustrates today. “But now these leaders have a huge
responsibility to ensure that across the borough we can all benefit now and in the future. “In sporting terms, a strong season is pointless
if you’re fighting relegation the next time around. The biggest challenge is making business aware of how they can help. Opportunity beckons for Solihull – ground-breaking engineering projects, world leading corporate enterprise and some of the biggest events in the world. “Together as a borough, from north to south,
across all age groups and cultures, we will grasp that chance and build for the future.” The report takes a detailed look at economic
issues and opportunities facing Solihull, including the professional, scientific and technical sectors, accommodation and food services, manufacturing and business, administration and support services. Keys assets like transport, key institutions, including Jaguar Land Rover and the NEC Group, education and business parks are also analysed. ‘Doing Business In Solihull: An Economic Snapshot’ has been sponsored by Prime Accountants.
‘A strong season is pointless if you’re fighting relegation the next time around’
Prime director Kevin Johns, a former
Solihull Chamber president, said: “As accountants we see the power in numbers to paint a picture of a situation and to use this as the basis for planning for the future. “The Solihull economic snapshot is the statistical proof that those doing business in Solihull or investing in the region are making the right decision. The document is an excellent summary of Solihull and by comparing us to others we are able to identify our strengths and areas to improve, data which will be vital as we begin to capitalise on the opportunities that lay ahead.”
The launch included an overview of the
report’s main findings, followed by a panel discussion featuring a number of leaders in business, policy and politics. It was chaired by Rob Elliot and panellists included Kathryn James, managing director of NEC Group, Simon Richards, chief finance and engineering officer at Birmingham Airport, and Kevin Johns. More than 400 delegates were expected to attend the Expo, with 40 businesses exhibiting.
• To view the report online go to:
www.greater
birminghamchambers.com/ our-group/solihull/
Robert Elliot: Opportunity beckons
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