A NEW report highlighting the growth of a significant number of small and medium-sized businesses in the East Midlands has been welcomed by Derbyshire and Nottinghamshire Chamber of Commerce.
The research – done by Experian for the Business Growth Fund – found that in spite of challenging economic conditions, more than 4,300 mid-sized SMEs from across the UK are demonstrating high levels of growth.
These 4,353 UK companies – a rise of almost ten per cent over the past year – have each demonstrated aggregate growth of at least 33 per cent in the past three years.
In the East Midlands, 15.5 per cent of firms were identified as being high growth.
DNCC Chief Executive George Cowcher said: “The Chamber welcomes this news, which confirms our own understanding of what is happening in business locally.
“To have 15.5 per cent of East Midlands firms identified as ‘high growth’ is very positive and gives us a good regional platform to build from.
“With Business Bank funding finally coming on stream and Regional Growth Fund money available, we would encourage companies to take advantage of these opportunities and low-cost borrowing to invest in new technology, new equipment and new ideas to create jobs and prosperity going forward.”