Birmingham City Council report
shows growth amid Brexit uncertainty

Birmingham City Council recently
released their 2016 end of year report for Birmingham and Greater
Birmingham, detailing how key aspects of the city and surrounding
region performed in the 2015/16 period.

As predicted, the shock result of
the decision to leave the EU following the June referendum (dubbed,
"Brexit" by the press) had an impact on the economy of the region
towards the second half of 2016. There was a marked decrease in
business confidence following this decision. The report predicts
that there will be more uncertainty as the magnitude of Brexit
becomes clearer.

Historically, the report has shown
that out of the 10 core cities of the UK, Birmingham has the
6th highest productivity.  This years' report is no
different, with Birmingham occupying this position
again.

Although business confidence had
been affected by several of the events of 2016, investment
intentions amongst companies in Birmingham and the Greater
Birmingham area has improved compared to previous years.

The latest surveys and reports
suggest that things could also be improving for local exporters.
The data for 2016 shows a marked improvement in confidence and
performance for companies that export goods abroad.

Development activity in Birmingham
in 2015/16 increased compared to the activity of recent years.
There was a 90% increase in the development of office spaces, a 60%
increase in the development of industrial spaces and a 65% increase
in housing development, compared to last year's figures.

So, despite the doom and gloom of
2016, all of this suggests that there are positives for businesses
in Birmingham following Brexit.

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