Centre for Cities data suggests 99 per cent of businesses in cities are small and medium sized enterprises (SMEs) and this community generates 80 per cent of cities’ growth.
The rate of growth is, to a significant extent, determined by the availability of human capital — managerial and wider skills and staff recruitment are the main concerns.
As a consequence, within the knowledge economy, growth is largely driven by universities and colleges.
Individual universities within Birmingham have examples of good relationships with SMEs.
Various schemes like ‘innovation vouchers’ and internship schemes, Knowledge Transfer Partnerships and the highly successful Goldman Sachs ‘10,000 Small Businesses’ programme all show what can be achieved through closer engagement.
