Business Growth Strategy - West Midlands Business Growth Policy and Activities

The West Midlands Growth Plan aligns strongly with the Modern Industrial Strategy and sets out a bold vision to transform the region’s economy over the next 10 years and to increase living standards across all parts of the West Midlands. It sets out a clear approach to regional growth focusing on;

• West Midlands High Growth Clusters: The cluster focus highlights that many of the region’s strengths are at the intersection between these sectors and new emerging technologies. 
  • Smart Energy
  • Advanced Engineering, EVs and Batteries 
  • Health Tech 
  • Digital Tech and Creative 
  • Next Generation Services 
• Business Productivity and Investment: The Plan recognises the productivity challenge across the region and seeks to support strong leadership and effective management practices that are directly linked to higher productivity in SMEs. It proposes an enhanced regional business support service focussed on the businesses with the greatest growth potential, to be delivered through the new EDV with responsibility for inward investment, clusters support, high growth support and Strategic Account Management. 
• Everyday Economy: The everyday economy refers to sectors that provide the goods and services that underpin our daily lives. These sectors employ nearly two-thirds of all jobs in the region. The Plan sets out to strengthen the everyday economy to create a more equitable economy that more residents have a shared stake in. It outlines the development of initiatives including the West Midlands Good Work Charter to define what good quality work means to residents and businesses in the West Midlands.